IREN Investors Have Opportunity to Lead Iris Energy Limited Securities Fraud Lawsuit

PRNewswire 12-Oct-2024 3:38 PM

NEW YORK, Oct. 12, 2024 /PRNewswire/ -- 

Why: Rosen Law Firm, a global investor rights law firm, announces that a shareholder has filed a class action lawsuit on behalf of all purchasers of securities of Iris Energy Limited (NASDAQ:IREN) between June 20, 2023 and July 11, 2024. Shareholders who want to serve as a lead plaintiff for the class must file their motions with the court by December 6, 2024.

So what: If you purchased IREN securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

What to do next: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=27776 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 6, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

What is this about: On July 11, 2024, Culper Research issued a report ("the Report") in which it announced it had taken a short position in Iris Energy Limited. The Report noted IREN is a "bitcoin miner that now promotes itself as a high performance computing ("HPC") data center play." In addition, the Report stated IREN "is a painfully transparent stock promotion that will unravel as investors realize the Company's HPC claims are nonsense and IREN remains a cash guzzling machine."

On this news, IREN's stock fell $1.70 per share, or 13.1%, to close at $11.20 per share on July 11, 2024.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

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Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
case@rosenlegal.com
www.rosenlegal.com

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