Iris Energy Limited (IREN) Investigation: Bronstein, Gewirtz & Grossman, LLC Encourages Investors to Seek Compensation for Alleged Wrongdoings

Globe Newswire 18-Jul-2024 4:00 PM

NEW YORK, July 18, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Iris Energy Limited ("Iris" or "the Company") (NASDAQ:IREN). Investors who purchased Iris securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/IREN.

Investigation Details

On July 11, 2024, Culper Research published a report alleging, among other things, that Iris "talks a big game of its [high performance computing (‘HPC')] plans but ultimately seems entirely disinterested in actually doing what it takes to compete in the space," and that the Company "is a painfully transparent stock promotion that will unravel as investors realize [its] HPC claims are nonsense and [it] remains a cash guzzling machine." The Culper Research report further states that the Company's facilities, having been built for BTC mining, "are ill-equipped for HPC workloads without billions in additional costs."

On this news, Iris's stock price fell $1.70 per share, or 13.2%, to close at $11.20 per share on July 11, 2024.

What's Next?

If you are aware of any facts relating to this investigation or purchased Iris securities, you can assist this investigation by visiting the firm's site: bgandg.com/IREN. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com