CoinVoice has recently learned that the crypto mining company IREN (formerly Iris Energy) has been sued by investors for class action, accusing it of misleading investors about its high-performance computing business.
The class action lawsuit, led by Paul Williams-Israel, was filed in federal court in New York on October 7, alleging that IREN's Childress, Texas, facility was falsely advertised as a data center for high-performance computing (HPC) and that its computing power was overstated. The lawsuit also alleges that IREN's expansion plans and HPC strategy released in a June 2023 statement contained material misrepresentations.
IREN's co-founders and co-CEOs, brothers Daniel Roberts and William Roberts, and the company's chief financial officer, Belinda Nucifora, are named as defendants. [Original link]
