According to ChainCatcher, according to Cointelegraph, U.S. District Court Judge Jamel Semper recently dismissed a class action lawsuit against Bitcoin mining company Iris Energy. The judge ruled that the plaintiff could not prove that the company had falsified statements or deliberately misled investors.

The lawsuit accused Iris Energy and its executives of violating the Securities Act and the Securities Exchange Act during the 2021 IPO. The plaintiff claimed that there were inaccuracies in the IPO documents and subsequent statements, and that loan information for mining equipment financing was not disclosed.

However, Judge Semper believed that Iris had no obligation to disclose all loan details and that the plaintiff failed to prove that there was material misleading. 🌐🔍📉