LOS ANGELES, July 5, 2016 /PRNewswire/ -- On June 15, 2016, a class action was filed against Homero Garza, Stuart Fraser, GAW Miners, LLC, and ZenMiner LLC in the U.S. District Court for the District of Connecticut. The action was filed on behalf of all persons or entities who, between June 1, 2014 and the present, purchased or acquired Hardware-Hosted Mining, Cloud-Hosted Mining, Hashlets, Hashpoints, Hashstakers, or Paycoins from GAW Miners, LLC and ZenMiner LLC.
Plaintiffs' complaint asserts claims against defendants for alleged violations of Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934 and SEC Rule 10b-5. Specifically, the complaint alleges that defendants made false and misleading statements and omitted material facts in connection with the sale of Hardware-Hosted Mining, Cloud-Hosted Mining, Hashlets, Hashpoints, Hashstakers, and Paycoins. In addition to federal securities law violations, plaintiffs also assert state law fraud claims and claims for alleged violations of the Connecticut Uniform Securities Act.
If you purchased or acquired Hardware-Hosted Mining, Cloud-Hosted Mining, Hashlets, Hashpoints, Hashstakers, or Paycoins from GAW Miners, LLC or ZenMiner LLC and wish to serve as a lead plaintiff in the action, you must file a motion with the Court no later than Tuesday, September 6, 2016. Any class member may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have questions concerning this notice or your rights, please contact Seth Ard, Esq. at Susman Godfrey LLP (firstname.lastname@example.org, 212-336-8330).
Plaintiffs are represented by Susman Godfrey, LLP and Izard, Kindall & Raabe, LLP. Both firms have significant experience in prosecuting investor class actions.
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SOURCE Susman Godfrey L.L.P.