An investigation on behalf of current long term investors in Core Scientific, Inc. (NASDAQ:CORZ) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 02/27/2023 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Core Scientific, Inc..
Investors who are current long term investors in Core Scientific, Inc. (NASDAQ: CORZ) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: CORZ stocks follows a lawsuit filed against Core Scientific, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: CORZ stocks, concerns whether certain Core Scientific directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, the Defendants failed to disclose to investors that, due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs, that the Company's largest customer, Gryphon, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host, that the Company was not providing hosting services to Celsius as required by their contract, that the Company had implemented an improper surcharge to pass through power costs to Celsius, that, as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius, that, as a result of the foregoing, the Company's profitability would be adversely impacted, that, as a result, there was likely substantial doubt as to the Company's ability to continue as a going concern, and that as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Those who purchased shares of Core Scientific, Inc. (NASDAQ: CORZ) have certain options and should contact the Shareholders Foundation.
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