Latest news with #Defendants
Yahoo
2 days ago
- Business
- Yahoo
BITF Lawsuit Alert! Class Action Lawsuit Against Bitfarms Ltd.
A class action lawsuit was filed against Bitfarms Ltd. (BITF) by Levi & Korsinsky on May 9, 2025. The plaintiffs (shareholders) alleged that they bought BITF stock at artificially inflated prices between March 21, 2023 and December 9, 2024 (Class Period) and are now seeking compensation for their financial losses. Investors who bought Bitfarms stock during that period can click here to learn about joining the lawsuit. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Bitfarms is a Canadian Bitcoin mining company that is transitioning its focus to building and managing data center infrastructure for high-performance computing (HPC) and artificial intelligence (AI) projects. The company claims to use renewable and alternative power sources for its operations to optimize costs and enhance sustainability. The company's failure to inform investors about its deficient internal controls over financial reporting is at the heart of the current complaint. According to the lawsuit, Bitfarms and three of its current and/or former senior officers (the Defendants) repeatedly made false and misleading public statements throughout the Class Period. Particularly, they are accused of omitting truthful information about the efficacy of the company's internal controls over financial reporting, and ancillary issues, from SEC filings and related material. During the Class Period, the company repeatedly stated that its management, including the CEO and CFO, have assessed the effectiveness of the Registrant's internal control over financial reporting and found them to be effective as of December 31, 2022. Additionally, in a May 15, 2023 press release, the former CEO noted that the company was maintaining financial and operating discipline and was able to achieve its target of reaching 6.0 exahash per second (EH/s) in Q3 FY23, ahead of the previously projected Q4 FY24. Finally, in an August 8, 2023 press release, the company mentioned that its management, led by the CEO and CFO, had established internal controls over financial reporting (ICFR). These controls were meant to help ensure that the company's financial reports are reliable, that its financial statements are prepared correctly for external purposes, and that they are in accordance with IFRS rules. However, subsequent events (mentioned below) reveal that the defendants failed to implement adequate internal controls over financial reporting, which ultimately led to the restatement of their historical financial statements. The plaintiffs maintain that the defendants deceived investors by lying and withholding critical information about the business practices and prospects during the Class Period. Importantly, the defendants are accused of misleading investors about deficient internal controls and procedures related to the categorization of proceeds derived from the sale of digital assets as cash flows from operating activities rather than from investing activities. The information became clear on December 9, 2024, when the company issued a press release announcing that it would need to restate previously issued financial statements due to the above-mentioned erroneous reporting. Particularly, Bitfarms will have to restate its consolidated financial statements for the fiscal years ending December 31, 2023 and 2022 and the related management's discussion and analysis (MD&A) for the year ended December 31, 2023. Additionally, the company will need to restate unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2024 and 2023 and the related MD&A for the three and nine months ended September 30, 2024. These restatements were required to correct 'a material error in the classification of proceeds derived from the sale of digital assets.' Following the news, BITF stock fell 6.6% the same day and a further 6.1% on December 10. To conclude, the company misled investors regarding the potential impact on its financial results from the incorrect classification of proceeds from the sale of digital assets under cash flow from operating activities. Owing to these issues, BITF stock has declined 74.5% in the past year, causing massive damage to shareholder returns. Disclaimer & DisclosureReport an Issue
Cision Canada
13-06-2025
- Health
- Cision Canada
AURORA CANNABIS CHS CLASS ACTION CERTIFIED Français
TORONTO, June 9, 2025 /CNW/ - Thousands of Canadian cannabis users are hospitalized and diagnosed with Cannabinoid Hyperemesis Syndrome ("CHS") every year. CHS is a dangerous side effect that can develop from the regular use of cannabis products. CHS involves cyclical bouts of severe nausea, vomiting, and abdominal pain, which can persist for days and can occur as often as once every five minutes. In extreme cases, CHS can result in organ failure and even death. On May 14, 2025, the Ontario Superior Court of Justice certified a national class action which alleges that Aurora Cannabis Inc, and Aurora Cannabis Enterprises Inc. negligently failed to warn consumers of the risk of developing CHS posed by the regular use of their cannabis products. This means that the action can now proceed as a class action. No findings of liability have been made against the defendants. The action was commenced by V.T., a Canadian Forces veteran who was prescribed cannabis to treat medical conditions. V.T. purchased medicinal cannabis from the Defendants, and used it as prescribed, until they suffered two extreme bouts of nausea, vomiting and abdominal pain that were so severe V.T. had to be hospitalized. On the second E.R. visit, V.T. was diagnosed as suffering from CHS. The only certain cure for CHS is to stop consuming cannabis, which V.T. did, and is now symptom-free. None of the cannabis products that V.T. consumed contained any warning about CHS, nor is there any warning in the product monograph, or on Aurora's website. The claim alleges that the Defendants knew, or should have known, of the risk of CHS arising from the regular use of their cannabis products, but negligently failed to provide any warning to consumers or prescribing physicians about the risk that they could develop CHS. The class action seeks to recover damages for the Class Members who developed CHS. The class action is brought on behalf of all persons in Canada who purchased a Cannabis Product from Aurora Cannabis Inc. or Aurora Cannabis Enterprises Inc. (which includes MedReleaf) on or after February 1, 2014 to May 14, 2025 (the "Class Period") who were diagnosed or differentially diagnosed with CHS during the Class Period after consuming one or more Cannabis Products. Cannabis Products are the cannabis and/or synthetic cannabinoid resins, pills, lozenges, concentrates, oils, edibles, beverages, vapours, and raw and adulterated plant material cultivated, designed, manufactured, packaged, labeled, distributed, marketed, and/or sold by the Defendants. The allegations contained in the Fresh as Amended Statement of Claim have not been proven in court, and the Defendants deny the Plaintiff's claims. . Sotos Class Actions 55 University Avenue, Suite 600 Toronto, ON M5J 2H7 [email protected] 1-877-294-9747 (toll free) For media inquiries, please contact Margaret Waddell by phone at 416.977.2413 or by email at [email protected].
Perth Now
12-06-2025
- Entertainment
- Perth Now
Kate Beckinsale sues Canary Black producers for negligence following knee injury
Kate Beckinsale is suing the producers of Canary Black for negligence after she was injured on set. The 51-year-old actress has claimed she was subjected to "dangerous and unsafe conditions" on the set of the crime drama, which was released last October, and is taking legal action against Anton Entertainment Media Services, Inc., and its employees, including producer John Zois, after accusing them of negligence, intentional infliction of emotional distress and battery, Puck reports. Kate initially filed her lawsuit under the anonymous alias Jane Doe in December, but she issued an amended complaint on 21 May, which included communications with the producers and further details of her injury. In the complaint, Kate alleged she arrived on set in Croatia in 2022 to discover the personal trainer, massage therapist and gym equipment she had been promised were not present, 15-hour days were common, and she was pushed to do her own stunts after her body double broke her ankle and producers drafted in an "unqualified" replacement, who was the girlfriend of Canary Black's stunt coordinator. People magazine reports her agent, Shani Rosenzweig, wrote to Zois: 'No one is actually taking real action to put a plan in place to fix this situation so it never happens again… [Ms. Beckinsale] keeps showing up to set for her call time and everyone around her has been made aware it's going to be a 15 hour [or more] day except for her. "If you're trying to kill a person, you're doing a great job." He allegedly replied and agreed to shorten the "unsustainable" work days. He added: "I don't know what else to say other than you're right.' However, the 15-hour days were said to have continued. The lawsuit alleged concerns about on-set safety were largely ignored and production was halted for months when Kate suffered a complex meniscus tear in her left knee during a scene when a male co-star threw her against a wall. Filming finally resumed after consultations with the actress' surgeon and lawyer, who asked an on-set physiotherapist to be able to shut things down and a list of limitations was agreed on, including no running, humping, harness suspension, squatting or kicking. But the lawsuit stated: "Production made little to no attempt to adhere to the list [and] acted intentionally … to put Ms. Beckinsale in unsafe situations, and coerce her while on camera to perform.' Kate alleged she suffered further injuries "including aggravation and exacerbation of her existing injuries, which was entirely avoidable", as a result of the alleged negligence and "conscious and reckless decisions" being made on set. In the newly amended complaint, Beckinsale allegedly suffered a 'significant trauma' to her knee after she was exposed to "dangerous and unsafe conditions" on the Canary Black set. "Ms. Beckinsale and her team repeatedly raised red flags regarding unsafe conditions on and off set to Defendants, including long, dangerous set days, often lasting fifteen hours, inadequate equipment and medical personnel to help manage the high physical workload and recover from the exertion off set, and failure to adequately inform Ms. Beckinsale of what stunts she was expected to perform until often the moment she had to perform it,' the complaint read. The actress also alleges that although she raised her concerns repeatedly, the producers put her " in harm's way" after they "continued to recklessly and intentionally forge ahead with unsafe filming conditions, forgoing safety to maintain profit margins."
Yahoo
12-06-2025
- Entertainment
- Yahoo
Kate Beckinsale sues 'Canary Black' producers on claims of negligence and battery, citing 'unsafe conditions' on set
Kate Beckinsale is taking legal action against the producers of her 2024 thriller Canary Black. The Serendipity star is accusing Anton Entertainment and producer John Zois of negligence, intentional infliction of emotional distress, and battery in a May 21 amended complaint filed in Los Angeles Superior Court. The document, which Entertainment Weekly has obtained and reviewed, claims that Beckinsale suffered a knee injury after being exposed to "dangerous and unsafe conditions" on the film's set. Puck was the first to report on the news. The complaint claims, "Ms. Beckinsale and her team repeatedly raised red flags regarding unsafe conditions on and off set to Defendants, including long, dangerous set days, often lasting fifteen hours, inadequate equipment and medical personnel to help manage the high physical workload and recover from the exertion off set, and failure to adequately inform Ms. Beckinsale of what stunts she was expected to perform until often the moment she had to perform it." Beckinsale further alleges that despite the repeated concerns, the producers "continued to recklessly and intentionally forge ahead with unsafe filming conditions, forgoing safety to maintain profit margins, and in the process, put Ms. Beckinsale in harm's way." Beckinsale first took action against the film's producers in December, initially filing as a Jane Doe but in the newly amended complaint, details her on-set injury and several communications between her team and the film's producers. The complaint claims that Beckinsale's team reached out to producers several times to express their concerns. At one point, Beckinsale's agent, Shani Rosenzweig, wrote in an email to Zois, "No one is actually taking real action to put a plan in place to fix this situation so it never happens again… [Ms. Beckinsale] keeps showing up to set for her call time and everyone around her has been made aware it's going to be a 15 hour [or more] day except for her." Rosenzweig demanded immediate action to address the unsafe conditions, asking Zois to explain his plans for course correcting and adding, "If you're trying to kill a person, you're doing a great job." Per the complaint, Zois responded, "I don't know what else to say other than you're right," and agreed to shorten Beckinsale's work days, calling the pace of production "unsustainable." But Beckinsale's attorneys claim that "set conditions continued to be dangerous," despite Zois's promise, "with production staff routinely pushing Ms. Beckinsale to shoot for fifteen hourdays, and perform dangerous action sequences, without pre-clearing or pre-training." In December 2022, Beckinsale suffered a complex meniscus tear in her left knee while filming. The injury required surgery and halted production for months. Before returning to set, Beckinsale's surgeon insisted that the actress not be asked to perform stunts involving running, jumping, harness suspension, squatting, or kicking. This request was allegedly disregarded. Beckinsale's complaint claims that she suffered further aggravation of the knee injury as her doctors orders were repeatedly ignored and she was allegedly coerced into performing "unsafe action sequences." Representatives for Zois and Anton Entertainment did not immediately respond to Entertainment Weekly's request for comment. The lawsuit is not the first time Beckinsale has opened up about her on set struggles. In the wake of Blake Lively filing a complaint against her It Ends With Us costar Justin Baldoni — accusing him of sexual harassment and coordinating an online smear campaign against her — Beckinsale lauded the actress for the move in a now-deleted Instagram video. "I'm grateful to Blake Lively for highlighting the fact that this is not an archaic problem that no one's facing," Beckinsale said. "This is continuing. And then when it does happen, a machine goes into place to absolutely destroy you. And I'm sure that's the case in other industries as well. And it's just got to stop."The video also saw her outline some instances of on-set abuse. Though she did not specify the projects, Beckinsale claimed that on the set of two films, she was put in a "very unsafe fight situation," and on one of them, was "gaslit and made to feel like I was the problem" after being injured. She added, "There's a certain kind of actor who gets kind of a thrill out of legally being able to harm a woman during a fight sequence." Read the original article on Entertainment Weekly
Yahoo
10-06-2025
- Politics
- Yahoo
Gavin Newsom Seeks Immediate Order To Block Donald Trump's Federal Troop Patrols In Los Angeles
California Governor Gavin Newsom said that the state is now seeking a temporary restraining order to block President Donald Trump from dispatching troops to patrol Los Angeles. Newsom wrote on X, 'Trump is turning the U.S. military against American citizens. The courts must immediately block these illegal actions.' More from Deadline Michael Stipe, Jason Isbell * Brandi Carlile Among Artists Featured On Album To Benefit Democracy Forward's Legal Challenges Judge Rejects Sean "Diddy" Combs' Latest Motion For Mistrial In Sex-Trafficking Case - Update Denise Rehrig Named Executive Producer Of ABC News Live's 'Prime With Linsey Davis' Read Newsom's motion about Trump troop deployment. In the motion filed on Tuesday in U.S. District Court in San Francisco, Newsom and state officials argued that 'they seek to preserve (in part) the status quo by temporarily enjoining Defendants from ordering or deploying the active- duty members of the military and federalized National Guard soldiers to patrol communities or otherwise engage in general law enforcement activities beyond the immediate vicinity of federal buildings or other federal real property.' They argued that the 'use of the military and the federalized National Guard deprives the State of vital resources, escalates tensions and promotes (rather than quells) civil unrest. By contrast, the public interest is served if the Court enjoins Defendants from further militarizing California's communities to allow State and local law enforcement to fulfill their duties to enforce State law. Moreover, a preliminary injunction will not harm Defendants: the Department of Homeland Security can continue to enforce immigration law and the DOD Defendants will merely be ordered to comply with the PCA and statutes governing the federalization of the National Guard.' Newsom filed suit against Trump and the administration on Monday, arguing that the president overstepped his authority when he dispatched National Guard troops to the region to respond to protests of ICE immigration raids. Newsom said that Trump violated the law by not consulting with him first before the deployment. More to come. Best of Deadline Sean 'Diddy' Combs Sex-Trafficking Trial Updates: Cassie Ventura's Testimony, $10M Hotel Settlement, Drugs, Violence, & The Feds A Full Timeline Of Blake Lively & Justin Baldoni's 'It Ends With Us' Feud In Court, Online & In The Media Where To Watch All The 'John Wick' Movies: Streamers That Have All Four Films
