Bitfarms .(BITF) Prnewswire·2025-05-19 19:01Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Bitfarms Ltd. regarding a class action lawsuit due to alleged misleading financial statements and internal control deficiencies [1][2]. Summary by Relevant Sections Allegations - The complaint alleges that Bitfarms issued materially false and misleading statements during the class period from March 21, 2023, to December 9, 2024 [1]. - Specific allegations include: - Deficient internal controls over financial reporting [1]. - Incorrect categorization of proceeds from the sale of digital assets as cash flow from operating activities instead of investing activities [1]. - Overstatement of the remediation of material weaknesses in internal controls related to the classification of 2021 Warrants [1]. - Misstatements in previously issued financial statements, which may require restatement [1]. - Public statements made by the company were materially false and misleading throughout the relevant period [1]. Next Steps for Shareholders - Shareholders are encouraged to register for the class action by July 8, 2025, to participate in the case without any cost or obligation [2]. - Registered shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. About the Gross Law Firm - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and fraud [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].