NEW YORK, March 27, 2018 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Riot Blockchain, Inc. ("Riot Blockchain" or the "Company") (NASDAQ: RIOT) of the April 18, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Riot Blockchain stock or options between October 4, 2017 and February 15, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/RIOT. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the District of Colorado on behalf of all those who purchased Riot Blockchain securities between October 4, 2017 and February 15, 2018 (the "Class Period"). The case, Greenawalt v. Riot Blockchain, Inc. et al, No. 18-cv-00440 was filed on February 22, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the correct address of the Company's principle offices.
Specifically, on February 16, 2018, CNBC published an article titled "CNBC investigates public company that changed its name to Riot Blockchain and saw its shares rocket" detailing the Company's sudden adjournment of its annual shareholder meeting, claiming that the Company's true location is in Florida instead of Colorado, and exploring the connections between O'Rourke and a principal investor, Barry Honig.
After the article was published, Riot Blockchain's share price fell from $17.20 per share on February 15, 2018 to a closing price of $11.46 on February 16, 2018 — a $5.74 or a 33.37% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Riot Blockchain's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
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