NEW YORK, NY / ACCESSWIRE / November 22, 2021 / Labaton Sucharow, a nationally ranked and award-winning shareholder rights firm, is investigating potential violations of the federal securities laws by Marathon Digital Holdings, Inc. (NASDAQ:MARA).
In their 10Q filing on Monday, November 15, 2021, Marathon Digital Holdings executives disclosed they received a subpoena from the U.S. Securities and Exchange Commission (SEC) to produce documents and communications concerning its Hardin, Montana, data center facility.
On Oct. 6, 2020, the bitcoin miner entered into a series of agreements with multiple parties to design and build a data center for up to 100-megawatts in Hardin, a small town in the northern part of the state, and issued 6 million of restricted Marathon common shares as part of the deal.
The SEC is investigating whether Marathon Digital Holdings has been in violation of federal securities law.
On this news, Marathon Digital Holdings shares were down more than 12%.
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Labaton Sucharow LLP is one of the world's leading complex litigation firms representing clients in securities, antitrust, corporate governance and shareholder rights, and consumer cybersecurity and data privacy litigation. Labaton Sucharow has been recognized for its excellence by the courts and peers, and it is consistently ranked in leading industry publications. Offices are located in New York, NY, Wilmington, DE, and Washington, D.C. More information about Labaton Sucharow is available at labaton.com.
David J. Schwartz
SOURCE: Labaton Sucharow LLP
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