NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of purchasers of Riot Blockchain, Inc. (NASDAQ: RIOT) resulting from allegations that Riot Blockchain may have issued materially misleading business information to the investing public.
On February 16, 2018, CNBC reported that Riot Blockchain’s cryptocurrency business raises a number of “red flags.” According to CNBC, the company was formerly known for having a veterinary product patent and developing new ways to test for disease until October 2017 when it changed its name. CNBC reported that other “questionable moves” included: (1) annual meetings being postponed at the last minute; (2) insider selling soon after the name change; (3) dilutive issuances on favorable terms to large investors; and (4) evidence the company “had no reservations” to hold its “twice ‘adjourned’” annual meeting at the Boca Raton Resort and Club in Florida. On this news, shares of Riot Blockchain have fallen sharply during intraday trading on February 16, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Riot Blockchain investors. If you purchased Riot Blockchain, please visit the firm’s website at http://www.rosenlegal.com/cases-1296.html to join the class action. You may also contact Phillip Kim or Daniel Sadeh of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or dsadeh@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Since 2014, Rosen Law Firm has been ranked #2 in the nation by Institutional Shareholder Services for the number of securities class action settlements annually obtained for investors.
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