CleanSpark Investor Class Certified in Suit Over Crypto Pivot

A CleanSpark Inc. investor is entitled to represent a class of shareholders on claims that the company misrepresented its shift from clean energy to Bitcoin mining, a federal judge ruled Wednesday.

CleanSpark’s arguments that individualized issues outweigh common ones are unpersuasive, Judge Loretta A. Preska said for the US District Court for the Southern District of New York. Its argument that it disproved the investors’ allegations of reliance, for example, “requires an inquiry into the merits that is inappropriate for the class certification stage,” Preska said.

The company’s challenges to lead plaintiff Darshan Hasthantra’s standing and his typicality as an ...