July 8, 2025 Deadline: Contact Levi & Korsinsky to Join Class Action Suit Against BITF

1. Bitfarms faces a class action lawsuit for alleged securities fraud. 2. The lawsuit covers events from March 21, 2023, to December 9, 2024. 3. Accusations include misleading financial reporting and internal control deficiencies. 4. Implications suggest potential restatement of previous financial statements. 5. Investors may pursue compensation without upfront costs until July 2025.

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FAQ

Why Very Bearish?

The allegations of financial misreporting may undermine investor confidence. Historically, companies facing similar lawsuits often see declining stock prices due to uncertainty.

How important is it?

The lawsuit indicates severe operational and transparency issues, escalating investor concern especially with a cryptocurrency-related firm like Bitfarms.

Why Long Term?

If financial restatements are required, it can lead to prolonged difficulties and scrutiny. Similar cases have dragged companies down for months to years.

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NEW YORK, June 6, 2025 /PRNewswire/ --

Levi & Korsinsky, LLP notifies investors in Bitfarms Ltd. ("Bitfarms Ltd." or the "Company") (NASDAQ: BITF) of a class action securities lawsuit.

CLASS DEFINITION:

The lawsuit seeks to recover losses on behalf of Bitfarms Ltd. investors who were adversely affected by alleged securities fraud between March 21, 2023 and December 9, 2024. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/bitfarms-ltd-lawsuit-submission-form?prid=151737&wire=4

BITF investors may also contact:

Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500.

CASE DETAILS:

The filed complaint alleges that defendants made false statements and/or concealed that:

(i) Bitfarms maintained deficient internal controls over financial reporting;
(ii) as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities;
(iii) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants;
(iv) the foregoing errors caused Bitfarms to misstate various items in several of the Company's previously issued financial statements;
(v) as a result, these financial statements were inaccurate and would likely need to be restated; and
(vi) as a result, the Company's public statements were materially false and misleading at all relevant times.

WHAT'S NEXT?

If you suffered a loss in Bitfarms Ltd. during the relevant time frame, you have until July 8, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU:

If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate.

WHY LEVI & KORSINSKY:

Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP