WASHINGTON--(BUSINESS WIRE)--U.S. Market Advisors Law Group PLLC (USMA Law Group) announces that a class action has been filed on behalf of purchasers of Riot Blockchain, Inc. (NASDAQ:RIOT) stock between November 13, 2017 and February 15, 2018. The lawsuit seeks to recover damages for Riot investors under the federal securities laws.
To join the Riot class action, please visit: http://usmarketlaw.com/riot. You may also contact attorney David P. Abel to discuss this matter at no obligation or cost: 202-274-0237; email@example.com. If you wish to serve as lead plaintiff, you must move the Court no later than April 18, 2018.
According to the class action Complaint, defendants made false and misleading statements and failed to disclose that: (1) Riot’s principle executive office was not in Colorado, but rather in Florida in the same location as a large, influential shareholder, Barry Honig who had a previous working relationship with Riot CEO & Chairman John O’Rouke; (2) Riot never intended to hold its Annual General Meetings scheduled for December 28, 2017 and February 1, 2018; and (3) as a result, defendants’ statements about Riot’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.
On February 16, 2018, CNBC published the article “CNBC investigates public company that changed its name to Riot Blockchain and saw its shares rocket” regarding questionable practices at Riot Blockchain. On this news, shares of Riot fell $5.74 per share, or over 33.37%, to close at $11.46 per share on February 16, 2018.
USMA Law Group has independently conducted a thorough investigation of Riot and its insiders. The firm’s investigation covers a period extending back to 2015 and entails significant information not contained in the class action Complaint. Investors suffering losses from Riot stock purchases may contact the firm for more information on potential expanded allegations: http://usmarketlaw.com/riot.
USMA Law Group is also available to discuss with investors their concerns over possible misconduct by other companies engaged in cryptocurrency and blockchain activities.
About USMA Law Group
USMA Law Group is a national law firm based in the District of Columbia. The firm represents investors in antitrust, securities and shareholder litigation. To learn more, visit www.usmarketlaw.com.