SAN DIEGO, CA / ACCESSWIRE / March 5, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in NASDAQ: RIOT shares over alleged securities laws violations by Riot Blockchain Inc, formerly Bioptix, Inc.
Investors who purchased shares of Riot Blockchain Inc. (NASDAQ: RIOT) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 16, 2018, it was reported that Riot Blockchain Inc.'s cryptocurrency business raises a number of "red flags." According to the report, Riot Blockchain Inc. was formerly known for having a veterinary product patent and developing new ways to test for the disease until October 2017 when it changed its name. It was further reported that other "questionable moves" included: (1) annual meetings being postponed at the last minute; (2) insider selling soon after the name change; (3) dilutive issuances on favorable terms to large investors; and (4) evidence the company "had no reservations" to hold its "twice 'adjourned'" annual meeting at the Boca Raton Resort and Club in Florida.
The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that Riot Blockchain Inc's principle executive offices were not in Colorado, but rather in Florida in the same location as a large, influential shareholder, Barry C. Honig who had a previous working relationship with Defendant O'Rouke, that Riot Blockchain Inc. never intended to hold its Annual General Meetings scheduled for December 28, 2017 and February 1, 2018, and that as a result, Defendants' statements about Riot's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased Riot Blockchain Inc. (NASDAQ: RIOT) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
