Bitcoin miner Riot Blockchain is suing hosting firm Northern Data , alleging breach of contract and failure to disclose important information., slated to be one of the world's largest by power capacity, which Riot acquired from Northern Data just last year for $651 million – $80 million cash and 11.8 million shares of Riot stock.
In the lawsuit filed on Sept. 7 in a Delaware court, Riot claims that Germany's Northern Data failed to disclose $84 million in liabilities to a third party, which the third party asked for in April of this year. At the time, Riot was trying to negotiate the final closing price for the acquisition but Northern Data"delayed and obfuscated," the lawsuit claims.
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RiotBlockchain NorthernDataAG egreechee Riot claims that Germany's Northern Data failed to disclose $84 mil liabilities to a 3rd party, which the third party asked for in April of this year. At the time, Riot was trying to negotiate the final closing price for the acquisition but Northern Data 'delayed and obfuscated'
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