GlobeNewswire Inc | Dec 20, 2021 04:03PM EST

December 20, 2021

NEW YORK, Dec. 20, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Marathon Digital Holdings, Inc. (f/k/a Marathon Patent Group, Inc.) (Marathon or the Company) (NASDAQ: MARA) in the United States District Court for the District of Nevada on behalf of investors who purchased or acquired the common stock of Marathon between October 13, 2020 and November 15, 2021, inclusive (the Class Period).

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Companys joint venture with Beowulf Energy LLC, as it related to a series of agreements with multiple parties to design and build a data center in Hardin, Montana, implicated potential regulatory violations, including U.S. securities law violations; (2) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (3) the foregoing was reasonably likely to have a material negative impact on the Company's business and commercial prospects; and (4) as a result, the Companys public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Marathon during the Class Period should contact the Firm prior to the February 15, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.