NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Bit Digital, Inc. (NASDAQ: BTBT) on behalf of Bit Digital stockholders. Our investigation concerns whether Bit Digital has violated the federal securities laws and/or engaged in other unlawful business practices.
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On Jan. 11, 2021, market analyst J Capital Research issued a scathing report about the company, concluding that Bit Digital operates “a fake crypto currency business” “designed to steal funds from investors.” According to J Capital, “[t]he company reported at end Q3 2020 that it was operating 22,869 bitcoin miners in China,” but that “is simply not possible” and “[w]e verified with local governments supposedly hosting the BTBT mining operation that there are no bitcoin miners there.”
On this news, Bit Digital’s stock price fell $6.27 per share, or 25%, to close at $18.76 per share on January 4, 2021.
If you purchased or otherwise acquired Bit Digital shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
