Greenidge Generation Holdings Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The New York State Department of Environmental Conservation (“DEC”) issued a statement about Greenidge on June 30, 2022. The DEC announced “its denial of the Title V air permit renewal for the Greenidge Generation, LLC, facility located in the town of Torrey, Yates County.” DEC added it had “determined the permit renewal application does not demonstrate compliance with the requirements of the Climate Leadership and Community Protection Act. Based on DEC’s review of the specific facts and circumstances presented, this natural gas-fired facility’s continued operations would be inconsistent with the statewide greenhouse gas emission limits established in the Climate Act.” DEC specified that “among the factors considered was the dramatic increase in greenhouse gas emissions from the facility since the passage of the Climate Act, driven by the change in the primary purpose of its operations. Rather than solely providing energy to the state’s electricity grid, the power plant now primarily provides energy behind-the-meter to support the demands of Greenidge’s energy-intensive proof of work cryptocurrency mining operations.” Based on this news, shares of Greenidge dropped by more than 7% on the same day.
