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NEW YORK, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Marathon Digital Holdings, Inc. (“Marathon” or the “Company”) (NASDAQ: MARA) on behalf of Marathon stockholders. Our investigation concerns whether Marathon has violated the federal securities laws and/or engaged in other unlawful business practices.
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On October 6, 2020, Marathon Digital entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, Montana. In connection with a Data Facility Services Agreement, the Company issued 6,000,000 shares of restricted common stock.
On November 15, 2021, Marathon Digital filed a quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission (“SEC”) for the quarterly period ending September 30, 2021. In the 10-Q filing, the Company disclosed it had received a subpoena from the SEC to produce documents and communications concerning its Hardin, Montana data center.
Marathon Digital says, “The SEC may be investigating whether or not there may have been any violations of the federal securities law.”
Following this news, Marathon Digital shares fell by $20.52 per share, about 27%, on heavy trading volume to close at $55.40 per share on November 15, 2021.
If you purchased or otherwise acquired Marathon shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Alexandra Raymond by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.