CORZ SHAREHOLDER ALERT: Jakubowitz Law Reminds Core Scientific Shareholders of a Lead Plaintiff Deadline of January 13, 2023

NEW YORK, Jan. 6, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Core Scientific, Inc. (NASDAQ: CORZ).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/core-scientific-inc-lawsuit-submission-form/?id=35348&from=4

The lawsuit seeks to recover losses for shareholders who purchased Core Scientific between January 3, 2022 and October 26, 2022.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until January 13, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Core Scientific, Inc. issued materially false and/or misleading statements and/or failed to disclose that:  (1) due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs; (2) the Company's largest customer, Gryphon Digital Mining, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host; (3) the Company was not providing hosting services to Celsius Network LLC ("Celsius") as required by their contract; (4) the Company had implemented an improper surcharge to pass through power costs to Celsius; (5) as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius; (6) as a result of the foregoing, the Company's profitability would be adversely impacted; (7) as a result, there was likely substantial doubt as to the Company's ability to continue as a going concern; and (8) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE Jakubowitz Law

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED