Shareholders of Bitfarms Ltd. Should Contact The Gross Law Firm Before July 8, 2025 to Discuss Your Rights - BITF

1. BITF faces a class action lawsuit for misleading financial statements. 2. Allegations include issues with internal controls over financial reporting. 3. Incorrect categorization of cash flow reported likely requires financial restatements. 4. Shareholders can contact the Gross Law Firm for potential lead plaintiff roles. 5. Class period for claims extends until December 2024.

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FAQ

Why Bearish?

The class action lawsuit signals serious governance issues, potentially leading to financial restatements, which historically harm stock prices significantly, as seen with other companies facing similar lawsuits.

How important is it?

Given that BITF is facing potential inaccuracies in financial reporting, the lawsuit could undermine investor confidence, impacting the price substantially.

Why Short Term?

The immediate implications of the lawsuit will likely create volatility as investors react, similar to how Bitmain's stock was affected after governance scandals.

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NEW YORK, June 9, 2025 /PRNewswire/ --

The Gross Law Firm issues the following notice to shareholders of Bitfarms Ltd. (NASDAQ: BITF).

Shareholders who purchased shares of BITF during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/bitfarms-ltd-loss-submission-form/?id=151918&from=4

CLASS PERIOD:

March 21, 2023 to December 9, 2024

ALLEGATIONS:

The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that:

Bitfarms maintained deficient internal controls over financial reporting;
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;
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;
the foregoing errors caused Bitfarms to misstate various items in several of the Company's previously issued financial statements;
as a result, these financial statements were inaccurate and would likely need to be restated; and
as a result, the Company's public statements were materially false and misleading at all relevant times.

DEADLINE:

July 8, 2025. Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/bitfarms-ltd-loss-submission-form/?id=151918&from=4

NEXT STEPS FOR SHAREHOLDERS:

Once you register as a shareholder who purchased shares of BITF during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is July 8, 2025. There is no cost or obligation to you to participate in this case.

WHY GROSS LAW FIRM?

The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: info@grosslawfirm.com
Phone: (646) 453-8903

SOURCE

The Gross Law Firm