Bitcoin mining company Hut 8 has filed a motion to dismiss a class action lawsuit filed by its shareholders. The company claims that the lawsuit was triggered by a short seller report that claimed that the company overpaid for a company with serious operational problems.
In a filing with the New York federal court on December 2, Hut 8 said that short seller J Capital Research engaged in "a campaign to drive down Hut 8's stock price for its own benefit."
The company program: "This case arises from the short seller's attempt to obtain monetary gains from its short position in Hut 8 at the expense of ordinary shareholders. These 'short and twist' schemes are often accompanied by shareholder class actions that repeat the negative views of the short sellers and refer to the report as a 'corrective' disclosure." (Cointelegraph)