The lawsuit accused Riot of issuing misleading materials concerning shareholders who were selling their shares in the company, alleging that “related-party transactions” had not been adequately disclosed by Riot.
New Jersey District Judge, Freda Wolfson, granted seven motions of dismissal that ended a lawsuit targeting crypto mining firm, Riot Blockchain, on April 30.
The plaintiffs claimed that Riot had made false and misleading statements to its shareholders concerning its investments in crypto assets and blockchain technologies.
Riot Blockchain escapes class-action suit
Judge Wolfson found that the plaintiffs provided insufficient evidence to demonstrate that Riot’s press releases and public statements contained false or misleading information.
“I have examined all three categories of statements and find, for the reasons set forth below, that plaintiff has failed to adequately allege that those statements were false or misleading”, the judge said.
The plaintiffs first filed the class action against Riot, then known as Bioptix Inc, in February 2018, alleging that the firm made “material misstatements” to shareholders after the publication of a negative article from CNBC.
The judge noted that the lead plaintiff may refile a revised suit within 30 days of the order.
Riot purchases 1,000 Anterminer S19’s
Also on April 30, Riot Blockchain announced that it had purchased 1,000 Bitmain Antminer S19 Pro ASIC miners for $2.4 million.
During April, Riot announced that it had struck a deal to relocate a portion of its mining operations into a New York facility operated by fellow mining firm Coinmint. The agreement saw recently purchased Antminer S17s moved from Riot’s Oklahoma facility.
The deal came after the mid-March crypto crash impacted the profits of many mining operations.
Hashcube Announces Bitcoin Mining Investment Forum in Thailand
Hashcube, a Korean Bitcoin miner retail and mining company, is proud to present Thailand’s first ever bitcoin mining investment forum on 21st September at the Amari Watergate Bangkok.
Together with large players from the crypto-industry such as Bitkub, BTC.com, Coolbitx and Cryptomind, we’re hosting an event where top industry leaders will be discussing the current landscape and sharing inside knowledge of profitable crypto investment and top solutions to building your crypto portfolio.
In addition, company exhibits and networking opportunities will also be available for everyone to connect and ask questions to help ensure a profitable journey through crypto investment.
Topics that will be covered includes:
– The current landscape of cryptocurrency and where its headed
– Investment opportunities that yield high rate of return today and in the future
– The opportunity and high ROI that mining crypto yields
– Crypto Exchange and how you can invest and benefit through it
– How to set up your own wallet or crypto pool
With an audience of crypto enthusiasts and top crypto visionaries all gathered together at the Amari Watergate for an eventful forum, you will build knowledge and network that will help you be successful in building your very own crypto investment portfolio. We hope to see you there!