Hut 8 Corp. (NASDAQ: HUT)

This lawsuit is for anyone who acquired securities in Hut 8 Corp. (NASDAQ: HUT) from November 9, 2023 through January 18, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company did its due diligence in deciding to merge with U.S. Data Mining Group, Inc., when the Company did not do do its due diligence.

On January 18, 2024, J Capital Research published a report alleging, among other things, that USBTC is “ backed by promoters with a history of legal trouble,” has an “undisclosed related party” as one of its largest shareholders, and that its core asset “has historically failed to provide energy and high-speed internet.” The report further claimed that, without the merger with Hut 8, USBTC “would have done a structured bankruptcy,” estimating that its value is as much as 70% less than the $745 million that Hut 8 paid to acquire it. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Hut 8 Corp. (NASDAQ: HUT) from November 9, 2023 through January 18, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.