Mawson Infrastructure Group files lawsuit seeking $23 million
Mawson Infrastructure Group Inc. experienced a price decline of 5.16%, crossing below the 5-day SMA amid broader market weakness, with the Nasdaq-100 down 0.65% and the S&P 500 down 0.55%.
The company has filed a lawsuit in the Delaware Bankruptcy Court seeking $23 million in damages against multiple parties related to an involuntary bankruptcy filed in December 2024. This legal action highlights the severe financial distress faced by Mawson, as the company claims that the coordinated actions of creditors resulted in a significant market capitalization loss, which could undermine investor confidence. The Interim CEO emphasized that the lawsuit aims to protect shareholder interests and recover damages to restore the company's reputation and financial stability.
This legal move underscores Mawson's commitment to safeguarding shareholder value and may provide a foundation for future operations and financing, ensuring its continued growth in the digital infrastructure sector.
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