NEW YORK, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, continues investigating whether certain directors and officers of Power & Digital Infrastructure Acquisition Corp. (“XPDI”) (NASDAQ: XPDI); n/k/a Core Scientific, Inc. (“Core Scientific”) (NASDAQ: CORZ) breached their fiduciary duties to XPDI’s shareholders. If you were an XPDI shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
Scott+Scott is investigating whether XPDI’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether XPDI’s shareholders suffered damages as a result.
On January 19, 2022, XPDI shareholders of record as of December 7, 2021, approved a merger between XPDI and Core Scientific.
Over the course of 2022, reports emerged that Core Scientific oversold its mining and hosting businesses prior to the SPAC transaction with XPDI. On October 27, 2022, Core Scientific disclosed that “given the uncertainty regarding the Company’s financial condition, substantial doubt exists about the Company’s ability to continue as a going concern.”
The stock price has declined by over 99.8% since the merger, with shares currently trading at $0.13/share.
What You Can Do
If you were an XPDI shareholder, you may have legal claims against XPDI’s directors and officers. If you wish to discuss this investigation or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or jpettigrew@scott-scott.com.
About Scott+Scott
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.
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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
600 W. Broadway, Suite 3300, San Diego, CA 92101
(844) 818-6982
jpettigrew@scott-scott.com
