NEW YORK, Jan. 27, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Iris Energy Limited (NASDAQ: IREN).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/iris-energy-limited-loss-submission-form/?id=35967&from=4

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Iris ordinary shares pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about November 17, 2021; and/or (b) Iris securities between November 17, 2021 and November 1, 2022, both dates inclusive.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until February 13, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Iris Energy Limited issued materially false and/or misleading statements and/or failed to disclose that:  (i) certain of Iris's Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company's initial public offering and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

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SOURCE Jakubowitz Law

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