RIOT BLOCKCHAIN INVESTOR ALERT: USMA Law Group Announces A Securities Class Action Has Been Filed Against Riot Blockchain, Inc.
February 20 2018 - 5:50AM
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;
dabel@usmarketlaw.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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180220005490/en/
U.S. Market Advisors Law Group PLLCDavid P. Abel,
202-274-0237Licensed in DC, SCdabel@usmarketlaw.com
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