NATIONALLY RANKED ROSEN LAW FIRM Encourages Core Scientific, Inc. Investors With Losses Greater Than $100,000 to Find Counsel Ahead of Important Deadline in Securities Class Action

NEW YORK, November 16, 2022 /PRNewswire/ —

WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Core Scientific, Inc. (NASDAQ: CORZ) securities between January 3, 2022 and October 26, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than January 13, 2023.

SO WHAT: If you purchased Core Scientific securities during the Class Period, you may be entitled to compensation without payment of fees or out-of-pocket expenses through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Core Scientific class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=3932 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action. A class action lawsuit has already been filed. If you wish to act as lead plaintiff, you must move the Court not later than January 13, 2023. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation.

WHY THE ROSEN LAW: We encourage investors to select qualified attorneys with proven track records in leadership roles. Often, companies issuing reviews do not have comparable experience, resources, or significant peer recognition. Be wise in choosing lawyers. Rosen Law Firm represents investors worldwide, focusing its practice on securities class action and shareholder derivative litigation. Rosen Law Firm has reached the largest securities class action settlement against a Chinese company. Rosen Law Firm was ranked #1 by ISS Securities Class Action Services for the number of securities class action settlements in 2017. The firm has ranked in the top 4 every year since 2013 and has recovered hundreds of million dollars for investors. In 2019 alone, the company obtained more than $438 million for investors. In 2020, founding partner Laurence Rosen has been named by law360 as a Titan of the Plaintiffs Bar. Many of the firm’s lawyers have been recognized by Lawdragon and Super Lawyers.

CASE DETAILS: According to the lawsuit, throughout the Class Period, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) in part due to the expiration of a favorable pricing, the company was experiencing an increase in electricity costs; (2) the company’s largest customer, Gryphon, lacked the financial resources to purchase the mining rigs needed for Core Scientific to host; (3) the Company was not providing hosting services to Celsius Network LLC and related entities (“Celsius”) as required by their contract; (4) the company had put in place an inappropriate surcharge to pass on electricity 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 affected; (7) as a result, there was likely substantial doubt as to the Company’s ability to continue as a going concern; and (8) therefore, defendants’ statements regarding its business, operations and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. When the real details entered the market, the lawsuit claims investors suffered damages.

To join the Core Scientific class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=3932 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] Where [email protected] for more information on the class action.

No class has been certified. Until a class is certified, you are not represented by an attorney unless you retain one. You can choose the lawyer of your choice. You can also remain an absent party member and do nothing at this point. An investor’s ability to participate in any potential future recovery does not depend on their status as lead plaintiff.

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Contact information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, Pennsylvania
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

SOURCE Rosen Law Firm, Pennsylvania

Denise W. Whigham