Bitdeer Accused of Misleading Investors Over SEAL04 Chip Delays, Faces Class Action Lawsuit
AI Summary1 min read
TL;DR
Bitdeer faces a class action lawsuit for allegedly misleading investors about the SEAL04 Bitcoin mining chip's development and timeline, leading to a stock price drop and seeking damages.
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BitdeerBitcoinclass action lawsuitSEAL04 chipinvestor fraudstock price
A class action lawsuit has been filed against Bitdeer Technologies Group (NASDAQ: BTDR) for allegedly misleading investors about the development and timeline of its forthcoming Bitcoin mining ASIC chip, the SEAL04. The lawsuit claims that Bitdeer and its senior executives made false and misleading statements about the chip's energy efficiency and mass production schedule, causing a sharp drop in the company's stock price. The complaint seeks damages for investors who purchased Bitdeer securities before the recent sell-off.
