Riot Blockchain Investors Say 3rd Shot At Suit Hits The Mark

Riot Blockchain Investors Say 3rd Shot At Suit Hits The Mark

By Katryna Perera (September 2, 2022, 9:21 PM EDT) — Investors in Riot Blockchain Inc. urged a New Jersey federal judge not to toss their third amended complaint against Riot and its executives, accusing them of misleading investors and orchestrating a pump-and-dump scheme, saying their latest complaint sufficiently alleges fraudulent activity and loss causation.

The investors, represented by lead plaintiff Dr. Stanley Golovac, filed a brief Thursday and pushed back against a dismissal motion filed in July by defendant and major Riot shareholder Barry Honig.

The investors say that after U.S. District Judge Zahid N. Quraishi issued an opinion in April on a previous dismissal motion, they filed an amended complaint that…

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