LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Iris Energy Limited (“Iris Energy” or the “Company”) (NASDAQ: IREN) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On July 11, 2024, Culper Research (“Culper”) issued a report entitled “Iris Energy Ltd (IREN): A Prius at the Grand Prix” (the “Culper Report” or the “Report”). In the Report, Culper announced that it was “short [IREN], a bitcoin miner that now promotes itself as a [HPC] data center play.” Culper stated that it was “short IREN because we believe the Company has dramatically misrepresented the strength and potential of its assets for HPC/AI applications.”
On this news, the price of IREN stock fell by $2.03 per share, or 15.3%, to close at $11.20 per share on July 11, 2024, thereby injuring investors.
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If you purchased Iris Energy securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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