San Diego, CA -- (SBWIRE) -- 02/28/2018 -- An investor in NASDAQ: RIOT shares filed a lawsuit against Riot Blockchain Inc over alleged violations of Federal Securities Laws by Riot Blockchain Inc.

Investors who purchased shares of Riot Blockchain Inc (NASDAQ: RIOT) have certain options and for certain investors are short and strict deadlines running. Deadline: April 18, 2018. NASDAQ:RIOT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On February 16, 2018, it was reported that Riot Blockchain Inc's cryptocurrency business raises a number of "red flags." According to the report, Riot Blockchain Inc was formerly known for having a veterinary product patent and developing new ways to test for disease until October 2017 when it changed its name. It was further reported that other "questionable moves" included: (1) annual meetings being postponed at the last minute; (2) insider selling soon after the name change; (3) dilutive issuances on favorable terms to large investors; and (4) evidence the company "had no reservations" to hold its "twice 'adjourned'" annual meeting at the Boca Raton Resort and Club in Florida. Shares of Riot Blockchain Inc (NASDAQ:RIOT) declined to $9.77 per share on February 20, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Riot Blockchain Inc (NASDAQ:RIOT) common shares between November 13, 2017 through February 15, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 13, 2017 through February 15, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Riot Blockchain Inc's principle executive offices were not in Colorado, but rather in Florida in the same location as a large, influential shareholder, Barry C. Honig who had a previous working relationship with Defendant O'Rouke, that Riot Blockchain Inc never intended to hold its Annual General Meetings scheduled for December 28, 2017 and February 1, 2018, and that as a result, Defendants' statements about Riot's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Riot Blockchain Inc (NASDAQ: RIOT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com