Greenidge Generation Holdings Inc. Investors: Company Investigated by the Portnoy Law Firm
Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, July 12, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises Greenidge Generation Holdings Inc. (“Greenidge” or “the Company”) (NASDAQ: GREE) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Greenidge investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The New York State Department of Environmental Conservation (“DEC”) issued a statement about Greenidge on June 30, 2022. The DEC announced “its denial of the Title V air permit renewal for the Greenidge Generation, LLC, facility located in the town of Torrey, Yates County.” DEC added it had “determined the permit renewal application does not demonstrate compliance with the requirements of the Climate Leadership and Community Protection Act. Based on DEC’s review of the specific facts and circumstances presented, this natural gas-fired facility’s continued operations would be inconsistent with the statewide greenhouse gas emission limits established in the Climate Act.” DEC specified that “among the factors considered was the dramatic increase in greenhouse gas emissions from the facility since the passage of the Climate Act, driven by the change in the primary purpose of its operations. Rather than solely providing energy to the state’s electricity grid, the power plant now primarily provides energy behind-the-meter to support the demands of Greenidge’s energy-intensive proof of work cryptocurrency mining operations.” Based on this news, shares of Greenidge dropped by more than 7% on the same day.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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