Hut 8 Mining Corp., one of the leading blockchain companies, became the subject of a legal investigation following the series of allegations that have significantly influenced its stock price on the Nasdaq stock exchange. Initially fueled by JCapital, a company involved in short selling that made accusations against the company’s management, the price of the stocks significantly decreased, and the management was suddenly forced to face the music.
Cases in the Court and Shareholder Damages
The Hut 8 has recently been charged with a securities class action suit. The suit has been filed against anyone who was damaged between 9th November 2023 and 19th January 2024. The company dealt with a persistent plunge in the value of the shares during this phase, whose apex was a grievous crash of $7.12 to $2.16 on January 19, when JCapital’s unaccepting report was published.
The report, which also included claims of possible insider trading and criticism of Hut 8’s $725 million merger with US
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