Hut 8 Corp., ex-CEO Jaime Leverton, and chief financial officer Shenif Visram allegedly failed to disclose conflicts and profitability issues related to a November 2023 merger with US Bitcoin Corp., a proposed shareholder class action says.
The crypto and data mining company’s merger target had an “undisclosed related party” as one of its largest shareholders, as well as a Bitcoin mining facility that wasn’t as profitable or functional as portrayed in disclosures ahead of the merger, according to the complaint filed Wednesday in US District Court for the Southern District of New York.
Hut 8 and the ...
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