{"id":76446,"date":"2022-11-03T05:05:38","date_gmt":"2022-11-03T05:05:38","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=101420"},"modified":"2022-11-03T05:05:38","modified_gmt":"2022-11-03T05:05:38","slug":"rosen-global-investor-counsel-encourages-core-scientific-inc-investors-with-losses-to-inquire-about-securities-class-action-investigation-corz","status":"publish","type":"post","link":"https:\/\/kuwaitnewsgazette.com\/rosen-global-investor-counsel-encourages-core-scientific-inc-investors-with-losses-to-inquire-about-securities-class-action-investigation-corz\/","title":{"rendered":"ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Core Scientific, Inc. Investors With Losses to Inquire About Securities Class Action Investigation \u2013 CORZ"},"content":{"rendered":"
\n

NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) — WHY: <\/strong>Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Core Scientific, Inc. (NASDAQ: CORZ) resulting from allegations that Core Scientific may have issued materially misleading business information to the investing public.<\/p>\n

SO WHAT:<\/strong> If you purchased Core Scientific securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.<\/p>\n

WHAT TO DO NEXT: <\/strong>To join the prospective class action, go to https:\/\/rosenlegal.com\/submit-form\/?case_id=3932<\/a> or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com<\/a> or cases@rosenlegal.com<\/a> for information on the class action.<\/p>\n

WHAT IS THIS ABOUT:<\/strong> On September 28, 2022, Celsius Network LLC and related entities filed a motion to enforce the automatic stay and for civil contempt in bankruptcy proceedings alleging that Core Scientific \u201chas knowingly and repeatedly violated the automatic stay provisions of 11 U.S.C. \u00a7 362(a)\u201d by refusing to perform its contractual obligations, threatening to terminate the companies\u2019 agreement, and adding improper surcharges. On this news, Core Scientific\u2019s stock fell 10% to close at $1.30 per share on September 29, 2022.<\/p>\n

Then on October 27, 2022, before market hours, Core Scientific filed a current report on Form 8-K with the SEC which noted several issues with the Company and stated that the Company \u201cpotentially could seek relief under the applicable bankruptcy or insolvency laws. In the event of a bankruptcy proceeding or insolvency, or restructuring of our capital structure, holders of the Company\u2019s common stock could suffer a total loss of their investment.\u201d<\/p>\n

The current report also revealed that \u201c[a]s of October\u00a026, 2022, the Company held 24 bitcoins and approximately $26.6 million in cash as compared to 1,051 bitcoins and approximately $29.5 million in cash as of September\u00a030, 2022[,]\u201d and that \u201c[t]he Company anticipates that existing cash resources will be depleted by the end of 2022 or sooner.\u201d<\/p>\n

On this news, Core Scientific\u2019s stock fell about $0.79 per share, or over 78%, to close at $0.22 per share on October 27, 2022.<\/p>\n

WHY ROSEN LAW: <\/strong>We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs\u2019 Bar. Many of the firm\u2019s attorneys have been recognized by Lawdragon and Super Lawyers.<\/p>\n

Follow us for updates on LinkedIn: https:\/\/www.linkedin.com\/company\/the-rosen-law-firm<\/a>, on Twitter: https:\/\/twitter.com\/rosen_firm<\/a> or on Facebook: https:\/\/www.facebook.com\/rosenlawfirm\/<\/a>.<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

——————————–<\/p>\n

Contact Information:<\/p>\n

Laurence Rosen, Esq.
\nPhillip Kim, Esq.
\nThe Rosen Law Firm, P.A.
\n275 Madison Avenue, 40th Floor
\nNew York, NY 10016
\nTel: (212) 686-1060
\nToll Free: (866) 767-3653
\nFax: (212) 202-3827
\nlrosen@rosenlegal.com<\/a>
\npkim@rosenlegal.com<\/a>
\ncases@rosenlegal.com<\/a>
\nwww.rosenlegal.com<\/a><\/p>\n

GlobeNewswire Distribution ID 8687836<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Nov. 02, 2022 (GLOBE NEWSWIRE) \u2014 WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Core Scientific, Inc. (NASDAQ: CORZ) resulting from allegations that Core Scientific may have issued materially misleading business information to the investing public. SO WHAT: If you [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"yoast_head":"\nROSEN, GLOBAL INVESTOR COUNSEL, Encourages Core Scientific, Inc. 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