Northern Data Sinks on Allegations by Ex-Workers on Finances (2)

Northern Data AG shares sank as much as 30% on Friday after news that two former senior employees alleged in a lawsuit that the German cryptocurrency miner misrepresented its finances.

The complaint, filed by Joshua Porter and Gulsen Kama in California last month, accused the Frankfurt-based company of firing them after they raised concerns about the financial picture that Northern Data was presenting to investors, regulators and business partners.

Trading in the stock was briefly halted due to volatility after the complaint was first reported by FT Alphaville.

Porter and Kama also alleged that the firm “was knowingly ...