Hut 8 Agrees to $2.35M Settlement on June 22 in Securities Lawsuit

On June 22, Hut 8 (NASDAQ: HUT) agreed to pay $2.35 million to settle a securities class action lawsuit brought by investors alleging the Bitcoin miner misled the market over disclosure of operational issues at King Mountain, a Texas mining site, during its 2023 merger with U.S. Bitcoin Corp. The stock recovered intraday losses to trade 2.36% higher near $123 by market close.
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