Core Scientific Securities Fraud Class Action Lawsuit Pending: Contact Levi & Korsinsky Before January 13, 2023 to Discuss Your Rights – CORZ

Nov 23rd, 2022 16:59 EST

New York, New York--(Newsfile Corp. - November 23, 2022) - Levi & Korsinsky, LLP notifies investors in Core Scientific, Inc. ("Core Scientific" or the "Company") (NASDAQ: CORZ) of a class action securities lawsuit.

The lawsuit on behalf of Core Scientific investors has been commenced in the the United States District Court for the Western District of Texas. Affected investors purchased or otherwise acquired certain Core Scientific, Inc. securities between January 3, 2022 and October 26, 2022. Follow the link below to get more information and be contacted by a member of our team:

https://www.zlk.com/pslra-1/core-scientific-class-action-submission-form?prid=34026&wire=5

or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500. There is no cost or obligation to you.

Core Scientific, Inc. NEWS - CORZ NEWS

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs; (2) the Company's largest customer, Gryphon Digital Mining, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host; (3) the Company was not providing hosting services to Celsius Network LLC ("Celsius") as required by their contract; (4) the Company had implemented an improper surcharge to pass through power costs to Celsius; (5) as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius; (6) as a result of the foregoing, the Company's profitability would be adversely impacted; (7) as a result, there was likely substantial doubt as to the Company's ability to continue as a going concern; and (8) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Core Scientific during the relevant timeframe, you have until January 13, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/core-scientific-class-action-submission-form?prid=34026&wire=5 or call 212-363-7500 to discuss the case.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.Ed Korsinsky, Esq.55 Broadway, 10th FloorNew York, NY 10006[email protected]Tel: (212) 363-7500Fax: (212) 363-7171www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145548

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