NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action lawsuit on behalf of all purchasers of ROOMS non-fungible tokens (“NFTs”) and Digital Nomads NFTs issued by Midnight Hub between January 15, 2023 and March 31, 2024. Midnight Hub is a community-driven platform that facilitates the growth and development of decentralized, community-run networks and projects, such as a community-run streaming platform called Digital Nomads TV or Rooms.tv.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that Midnight Hub Misled Investors Regarding its Business Operations.
According to the lawsuit, during the Class Period, defendants’ statements promoting the NFTs were untrue or misleading statements of material fact. In truth, at the time defendants sold the NFTs, defendants had no plan for developing Midnight Hub’s infrastructure or any of the platform’s decentralized projects such as the Digital Nomads TV. In fact, defendants had no plans for the future of Midnight Hub aside from profiting off the hype and excitement around the project. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against Midnight Hub. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by January 6, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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