Pomerantz LLP, a New York-based law firm, has launched an investigation into Bitcoin mining company Core Scientific, alleging that its leadership was involved in securities fraud and other activities that harmed the company’s stock price. Pomerantz said in a press release on Monday that it is acting on behalf of investors who are concerned that “Core and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practises.” More specifically, the securities class action firm cited a report from investment research firm Culper Research from last year, which stated that Core had “wildly oversold both its mining and hosting businesses,” allegedly cobbling it together “in a series of questionable transactions before dumping onto the market via SPAC.”
