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BTBT.US
id: 445

Bit Digital (BTBT) $2.1 Million Settlement

The settlement funds have been distributed to claimants.
$2,100,000
Cash Settlement
S.D. New York
Court
1:21-cv-00515
Case number
12/21/2020
Class period Start
01/11/2021
Class period End
03/21/2023
Claim deadline
Bit Digital Inc (BTBT) agreed to pay $2.1 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business prospects.

The Complaint alleged that the Company and its Leaders made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleged they failed to disclose to investors that Bit Digital overstated the extent of its bitcoin mining operation.

Bit Digital Inc (BTBT) agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.5
Filing date
01/20/2021
Plaintiffs
Joseph Franklin, Monkam Nitcheu
Attorneys
Block & Leviton LLP (Boston, MA)
Defendants
Erke Huang
Judge
Hon. Andrew L. Carter, Jr.
Administrator
Kroll
Court hearing date
03/07/2023
Exclusion deadline
02/14/2023
Objection deadline
02/14/2023
Hearing deadline
02/14/2023
Trades matching type
FIFO
Disbursement date
07/29/2024

Bit Digital Inc

Bit Digital, Inc., together with its subsidiaries, engages in the bitcoin mining business. The company designs, develops, and operates high-performance computing (HPC) data centers that offers host...

    Ticker
    BTBT.US
    ISIN
    KYG1144A1058
    CIK
    0001710350
    Sector
    Financial Services
    Industry
    Capital Markets
    Country
    USA
    Address
    31 Hudson Yards, New York, NY, United States, 10001