Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of Core Scientific, Inc. (CORZ) Investors
-The law firm of Kirby McInerney LLP is investigating potential claims against Core Scientific, Inc. (“Core Scientific” or the “Company”). The investigation concerns whether Core Scientific has violated the federal securities laws and/or engaged in other unlawful business practices.
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“alleges that Core Scientific ‘wildly oversold’ both its mining and hosting business. Culper also highlighted that CORZ had, earlier that week disclosed that its board waived a 180-lockup on over 282M shares, which will allow insiders to sell the shares.”
Core Scientific is a 100% net carbon neutral, vertically integrated blockchain infrastructure and mining company.
On March 3, 2022, Seeking Alpha reported “Crypto miner Core Scientific drops after new short call from Culper Research” stating that Core Scientific’s stock price “fell 3.8% after a new short report from Culper Research,” which “alleges that Core Scientific ‘wildly oversold’ both its mining and hosting business. Culper also highlighted that CORZ had, earlier that week disclosed that its board waived a 180-lockup on over 282M shares, which will allow insiders to sell the shares.” On this news, Core Scientific’s stock price declined by $0.72 per share, or approximately 9.4%, from $7.70 per share to close at $6.98 per share on March 3, 2022.
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If you purchased or otherwise acquired Core Scientific securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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