Core Scientific Misled on Blockchain Financials, Investor Says
November 15, 2022
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Nov. 15, 2022, 7:23 PM
Blockchain computing company Core Scientific Inc. failed to alert investors to several adverse business circumstances that, when revealed, wiped out much of the value of its stock, an investor says in a proposed class suit.
The company’s stock price dropped from $7.70 per share on March 2 to $0.22 per share on Oct. 27, shareholder Mei Pang says in her complaint, filed Monday in the US District Court for the Western District of Texas.
Power costs, a customer’s lack of money to buy mining computers, and a dispute with another customer that sparked litigation were underlying causes of problems with …
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