New York, NY — February 26, 2018 Riot Blockchain, Inc. (NASDAQ: RIOT) and two of its officers were accused of federal securities law violations in a class action lawsuit filed on behalf of purchasers of Riot securities during the Class Period of November 13, 2017 to February 15, 2018. The case is in the U.S. District Court for the District of New Jersey, and the deadline for RIOT class members to file a lead plaintiff motion with the Court is April 18, 2018.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Riots principle executive offices were not in Colorado, but rather in Florida in the same location as a large, influential shareholder, Barry C. Honig who had a previous working relationship with Defendant O’Rouke; (2) Riot never intended to hold its Annual General Meetings scheduled for December 28, 2017 and February 1, 2018; and (3) as a result, Defendants statements about Riots business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Riot securities during the Class Period you may, no later than April 18, 2018, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a class member that represents other class members in directing the litigation. Lead plaintiff’s make important decisions that could affect the overall recovery for class members. You do not need to be a lead plaintiff to recover as an absent class member. If this action is certified as a class action, class members will be automatically represented by Court-appointed counsel.
Milberg Tadler Phillips Grossman LLP helps clients challenge corporate wrongdoing through class action, mass tort, personal injury, consumer, and shareholder rights services.
Andrei Rado, Esq.
Milberg Tadler Phillips Grossman LLP
One Pennsylvania Plaza, 19th Fl.
New York, NY 10119-0165
Phone number: 800-320-5081