Investor Faults Crypto Mining Execs For SEC Probe – Law360

Investor

By Daily Crypto Investor On May 7, 2022

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By Elise Hansen (May 6, 2022, 6:56 PM EDT) — The directors of cryptocurrency mining company Marathon Digital Holdings Inc. exposed the company to regulatory scrutiny when they inked a deal to build a data center in Montana, an investor told a Nevada federal court.

Investor Roy Strassman argued Thursday that a flawed joint venture deal led to a U.S. Securities and Exchange Commission investigation and a corresponding drop in Marathon’s share price when the investigation was announced. Strassman, who lodged his claims on behalf of the company, accused Marathon’s then-directors and chief financial officer of a “knowing and culpable violation” of their duties to the company and its investors….

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