Undisclosed related party at USBTC
Company: Hut 8
The claim, verbatim
One of USBTC's biggest shareholders was an undisclosed related party whose relationship was not disclosed in merger materials.
Source (primary)
Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick… (RECAP, court_filing)
View cached copy (2026-09-26)Live source ↗
Quote: “the Merger was consummated on misstatements and omissions of material fact that failed to disclose that: (1) one of USBTC's biggest shareholders was an "undisclosed related party;"”
How we checked this
Checked on September 28, 2026. The cited source supports part of this claim, but not all of it.
The complaint presents this as an allegation drawn from a short-seller report. It does not establish it as fact.
Confirmed in the source:
- A shareholder derivative complaint, relying on a J Capital Research report, alleges that one of USBTC's biggest shareholders was an 'undisclosed related party' and that merger disclosures omitted this
We could not confirm this from the cited source:
- That one of USBTC's biggest shareholders actually was an undisclosed related party (the document only alleges this)
- That the relationship was in fact not disclosed in merger materials (the document only alleges this)
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of RECAP (https://storage.courtlistener.com/recap/gov.uscourts.nysd.618845/gov.uscourts.nysd.618845.9.0.pdf) in full (109,679 characters, retrieved September 26, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Thompson v. Leverton — Entry #9: FIRST AMENDED COMPLAINT amending 1 Complaint, against Joseph Flinn, Asher Genoot, Alexia Hefti, Michael Ho, Hut 8 Corp., Jamie Leverton, Stanley O'Neal, Rick…
Quote: “the Merger was consummated on misstatements and omissions of material fact that failed to disclose that: (1) one of USBTC's biggest shareholders was an "undisclosed related party;"”