SAN DIEGO, April 24, 2023 (GLOBE NEWSWIRE) — The class: Robbins LLP Reminds investors that a shareholder has filed a class action lawsuit on behalf of all individuals and entities holding Marathon Digital Holdings, Inc. MARA Common stock between May 10, 2021 and February 28, 2023 for violating the Securities Exchange Act of 1934. Marathon is a digital asset technology company that develops digital assets with a focus on the blockchain ecosystem and digital asset generation in the United States .

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against Marathon. Shareholders who wish to be lead plaintiffs in the class action must file their filings by May 30, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information Here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: Marathon Digital Holdings, Inc. (MARA) is required to restate its financial statements for the 2021 and 2022 periods

According to the Complaint, the Defendants failed to disclose that the Company overestimated the effectiveness of its disclosure controls and procedures and its internal control over financial reporting and as a result, Marathon’s revenues and cost of sales were materially misreported during the Class Period.

On February 28, 2023, Marathon canceled its webcast and conference call for fourth quarter and fiscal year 2022 and delayed the release of related financial results. Marathon also announced it had received a letter from the SEC alleging accounting errors in the company’s previously released financial statements. The Company cautioned investors that “statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and previously issued unaudited…