NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Iris Energy Limited (“Iris Energy” or the “Company”) ( IREN) securities between June 20, 2023 and July 11, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that Defendants overstated the Company’s prospects with data centers and high-performance computing, in large part as a result of material deficiencies in the Company’s Childress County, Texas site. The Complaint further alleges that on July 11, 2024 Culper Research issued a report entitled “Iris Energy Ltd (IREN, Financial): A Prius at the Grand Prix.” On this news, the price of the Company’s stock fell by more than 15%.
Investors who purchased or otherwise acquired shares of Iris Energy should contact the Firm prior to the December 6, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
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