Marathon Digital Investor Alert: Kaplan Fox Investigates Potential Securities Fraud at Marathon Digital Holdings, Inc.
NEW YORK, Nov. 16, 2021 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Marathon Digital Holdings, Inc. (“Marathon” or the “Company”) (NASDAQ: MARA), a cryptocurrency mining company.
On October 6, 2020, Marathon Digital entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, Montana. In connection with a Data Facility Services Agreement, the Company issued 6,000,000 shares of restricted common stock.
On November 15, 2021, Marathon Digital filed a quarterly report on Form 10-Q with the U.S. Securities and Exchange Commission (“SEC”) for the quarterly period ending September 30, 2021. In the 10-Q filing, the Company disclosed it had received a subpoena from the SEC to produce documents and communications concerning its Hardin, Montana data center.
Marathon Digital says “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
Following this news, Marathon Digital shares fell by $20.52 per share, about 27%, on heavy trading volume to close at $55.40 per share on November 15, 2021.
If you purchased or otherwise acquired Marathon Digital securities and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact:
Frederic S Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: ffox@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
