Cohen Milstein Sellers & Toll PLLC Announces Investigation of Riot Blockchain Inc.

WASHINGTON--(BUSINESS WIRE)--Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Riot Blockchain, Inc. (“Riot Blockchain” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.

Class action lawsuits were filed in multiple venues by other law firms on behalf of purchasers of the common stock of Riot Blockchain (NASDAQ: RIOT) between October 14, 2017 and February 15, 2018, inclusive (the “Class Period”).

The complaints allege that Riot Blockchain and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) Riot’s principle executive offices were not in Colorado, but rather in Florida in the same location as a large, influential shareholder, defendant Barry C. Honig, who had a previous working relationship with CEO and defendant John O’Rourke; (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 at all relevant times.

The claims in this case arise followed the postponement of Riot Blockchain’s annual shareholder meeting and a CNBC report on February 16, 2018, raising questions about the Company and pointing to multiple red flags such as insider selling, dilutive issuances of stock favoring large investors and cryptic SEC filings. The price of Riot Blockchain fell from $17.20 on February 15, 2018 to $11.46 on February 16, 2018.

Cohen Milstein encourages all investors who purchased Riot Blockchain’s common stock between October 14, 2017 and February 15, 2018, or former employees with information concerning this matter to contact the firm.

If you are Riot Blockchain shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at [phone] or [phone], or email him at [e-mail]. If you wish to serve as lead plaintiff, you must move the Court no later than April 18, 2018 to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.

Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud, and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors, and has been responsible for a number of outstanding recoveries which, in the aggregate, total billions of dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:

Steven J. Toll, Esq.
Ryan Marchbank
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Fifth Floor
Washington, D.C. 20005
Telephone: [phone] or [phone]
Email: [e-mail]; [e-mail]

Attorney Advertising