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Ordered by Magistrate Judge Peggy Kuo on 1/23/2025. (RO)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/414316424/","id":414316424,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/427956396/","id":427956396,"tags":[],"absolute_url":"","date_created":"2025-01-23T06:23:20.910627-08:00","date_modified":"2025-01-23T06:23:20.913775-08:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order(Other)","acms_document_guid":""}],"date_created":"2025-01-23T06:23:20.902782-08:00","date_modified":"2025-01-23T06:23:20.902792-08:00","date_filed":"2025-01-23","time_filed":"09:13:00","entry_number":null,"recap_sequence_number":"2025-01-23.001","pacer_sequence_number":null,"description":"","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/414224669/","id":414224669,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/427857057/","id":427857057,"tags":[],"absolute_url":"/docket/69231344/32/in-re-iris-energy-limited-securities-litigation/","date_created":"2025-01-22T09:56:37.476030-08:00","date_modified":"2025-04-18T00:41:16.583810-07:00","sha1":"389ed00c76a4b693f9b1bb5faeccded0b2ffc703","page_count":3,"file_size":145884,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.32.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.32.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 32 Filed 01/22/25 Page 1 of 3 PageID #: 489\n\n\n\n\nUNITED STATES DISTRICT COURT\nEASTERN DISTRICT OF NEW YORK\n\nIn re:\n\n\nIris Energy Limited Securities Litigation 1:24-cv-7046 (PK)\n\n\n\n\n STIPULATION AND ORDER SETTING\n PLEADING AND BRIEFING SCHEDULE\n\n Lead Plaintiff Rick Bunney (\u201cLead Plaintiff\u201d) and Defendants IREN Limited (f/k/a Iris\n\n Energy Limited), Daniel Roberts, Williams Roberts, and Belinda Nucifora (\u201cDefendants,\u201d and\n\n together with Lead Plaintiff, the \u201cParties\u201d), by and through their undersigned counsel, hereby\n\n stipulate and agree as follows:\n\n WHEREAS, on October 7, 2024, Paul Williams-Israel commenced the above-\n\n captioned putative class action by filing a complaint (the \u201cComplaint\u201d) against Defendants\n\n asserting claims pursuant to Sections 10(b) and 20(a) of the Exchange Act (15 U.S.C. \u00a7\u00a7 78j(b)\n\n and 78t(a)) and Rule 10b-5 promulgated thereunder by the SEC (17 C.F.R. \u00a7 240.10b-5) (ECF\n\n No. 1);\n\n WHEREAS, on October 15, 2024, Defendants moved the Court for \u201can adjournment\n\n of any deadline to answer or otherwise respond to the Complaint until after the Court appoints\n\n a lead plaintiff and lead counsel\u201d (the \u201cMotion for Extension of Time to Answer\u201d), with the\n\n consent of Paul Williams-Israel (ECF No. 9);\n\n WHEREAS, on October 21, 2024, the Court granted Defendants\u2019 Motion for\n\n Extension of Time to Answer and ordered that: \u201cWithin fourteen (14) days of an order by the\n\n Court appointing a lead plaintiff and lead counsel, the parties are directed to file a joint\n\fCase 1:24-cv-07046-PK Document 32 Filed 01/22/25 Page 2 of 3 PageID #: 490\n\n\n\n\n proposed schedule for the filing of any consolidated or amended complaint and for any\n\n anticipated motion to dismiss the operative complaint\u201d;\n\n WHEREAS, on January 7, 2025, the Court issued an order appointing Rick Bunney\n\n as Lead Plaintiff, and Glancy Prongay & Murray LLP and Holzer & Holzer, LLC as Co-Lead\n\n Counsel (ECF No. 30);\n\n WHEREAS, on January 15, 2025, the Parties met and conferred and agreed to a\n\n schedule for the filing of a consolidated amended complaint and a briefing schedule for\n\n Defendants\u2019 anticipated motion to dismiss; and\n\n WHEREAS, the Parties\u2019 negotiated schedule will not otherwise affect the schedule of\n\n the case, as discovery is stayed pursuant to the Private Securities Litigation Reform Act and\n\n there are no other events or deadlines currently scheduled;\n\n NOW, THEREFORE, THE PARTIES HEREBY STIPULATE AND AGREE, by\n\n and through their undersigned counsel, and subject to this Court\u2019s approval:\n\n 1. Lead Plaintiff shall file a consolidated amended complaint on or before March\n\n 24, 2025.\n\n 2. Defendants shall respond to the consolidated amended complaint, by filing a\n\n motion to dismiss or otherwise, on or before May 23, 2025.\n\n 3. Lead Plaintiff shall file an opposition to Defendants\u2019 motion to dismiss, if any,\n\n on or before July 22, 2025.\n\n 4. Defendants shall file a reply in support of their motion to dismiss, if any, on or\n\n before September 5, 2025.\n\n\n\n\n 2\n\fCase 1:24-cv-07046-PK Document 32 Filed 01/22/25 Page 3 of 3 PageID #: 491\n\n\n\n\nRespectfully submitted this twenty-first day of January, 2025.\n\n\nGLANCY PRONGAY & MURRAY LLP DAVIS POLK & WARDWELL LLP\n\nBy: /s Gregory B. Linkh By: /s Edmund Polubinski\nGregory B. Linkh Edmund Polubinski\n230 Park Ave. Suite 358 Paulina Perlin\nNew York, New York 10169 450 Lexington Avenue\n(212) 682 5340 New York, New York 10017\nglinkh@glancylaw.com (212) 450-4000\n edmund.polubinski@davispolk.com\nLeanne Heine Solish paulina.perlin@davispolk.com\nCharles H. Linehan\n1925 Century Park East, Suite 2100\nLos Angeles, CA 90067 Mari Grace\n(310) 201-9150 1050 17th Street, NW\nlsolish@glancylaw.com Washington, DC 20036\nclinehan@glancylaw.com (202) 962-7020\n mari.grace@davispolk.com\nHOLZER & HOLZER, LLC\nCorey D. Holzer\n211 Perimeter Center Parkway, Suite 1010 Attorney for Defendants IREN Limited,\nAtlanta, Georgia 30346 Daniel Roberts, William Roberts, and\n(770) 392-0090 Belinda Nucifora\ncholzer@holzerlaw.com\n\nCo-Lead Counsel for Lead Plaintiff Rick\nBunney\n\n\n\n\n IT IS SO ORDERED.\n\n\n January 22\n Dated:______________, 2025\n Peggy Kuo\n New York, New York Hon. Peggy Kuo\n United States Magistrate Judge\n\n\n\n 3\n\f","ocr_status":2,"date_upload":"2025-01-24T11:18:02.568386-08:00","document_number":"32","attachment_number":null,"pacer_doc_id":"123022122867","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order on Motion for Extension of Time to File","acms_document_guid":""}],"date_created":"2025-01-22T09:56:37.448664-08:00","date_modified":"2025-04-18T00:41:16.554215-07:00","date_filed":"2025-01-22","time_filed":"12:49:27","entry_number":32,"recap_sequence_number":"2025-01-22.001","pacer_sequence_number":130,"description":"SCHEDULING ORDER: The Court provisionally grants the 31 Motion for Extension of Time to File. The deadline for Lead Plaintiff to file a consolidated amended complaint is extended to March 24, 2025. The parties are reminded that this case has been assigned to Judge Kuo as part of the EDNY Direct Assignment Pilot Program. The parties are encouraged to consent to Judge Kuo for all purposes by filing the Magistrate Judge Consent Form. If all parties consent by May 9, 2025, Judge Kuo will remain as the presiding judge and conduct all proceedings, including trial and any dispositive motions. If no consent form is filed by that date, a District Judge will randomly be assigned as the presiding judge. The parties may withhold their consent without adverse substantive consequences. Ordered by Magistrate Judge Peggy Kuo on 1/22/2025. (RO) (Entered: 01/22/2025)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/414170517/","id":414170517,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/427799271/","id":427799271,"tags":[],"absolute_url":"/docket/69231344/31/in-re-iris-energy-limited-securities-litigation/","date_created":"2025-01-21T18:47:12.812791-08:00","date_modified":"2025-04-18T00:41:16.533029-07:00","sha1":"78444952441910f1c1e93fe5fe466eaec4ae89d1","page_count":3,"file_size":135862,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.31.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.31.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 31 Filed 01/21/25 Page 1 of 3 PageID #: 486\n\n\n\n\nUNITED STATES DISTRICT COURT\nEASTERN DISTRICT OF NEW YORK\n\nIn re:\n\n\nIris Energy Limited Securities Litigation 1:24-cv-7046 (PK)\n\n\n\n\n STIPULATION AND PROPOSED ORDER\n SETTING PLEADING AND BRIEFING SCHEDULE\n\n Lead Plaintiff Rick Bunney (\u201cLead Plaintiff\u201d) and Defendants IREN Limited (f/k/a Iris\n\n Energy Limited), Daniel Roberts, Williams Roberts, and Belinda Nucifora (\u201cDefendants,\u201d and\n\n together with Lead Plaintiff, the \u201cParties\u201d), by and through their undersigned counsel, hereby\n\n stipulate and agree as follows:\n\n WHEREAS, on October 7, 2024, Paul Williams-Israel commenced the above-\n\n captioned putative class action by filing a complaint (the \u201cComplaint\u201d) against Defendants\n\n asserting claims pursuant to Sections 10(b) and 20(a) of the Exchange Act (15 U.S.C. \u00a7\u00a7 78j(b)\n\n and 78t(a)) and Rule 10b-5 promulgated thereunder by the SEC (17 C.F.R. \u00a7 240.10b-5) (ECF\n\n No. 1);\n\n WHEREAS, on October 15, 2024, Defendants moved the Court for \u201can adjournment\n\n of any deadline to answer or otherwise respond to the Complaint until after the Court appoints\n\n a lead plaintiff and lead counsel\u201d (the \u201cMotion for Extension of Time to Answer\u201d), with the\n\n consent of Paul Williams-Israel (ECF No. 9);\n\n WHEREAS, on October 21, 2024, the Court granted Defendants\u2019 Motion for\n\n Extension of Time to Answer and ordered that: \u201cWithin fourteen (14) days of an order by the\n\n Court appointing a lead plaintiff and lead counsel, the parties are directed to file a joint\n\fCase 1:24-cv-07046-PK Document 31 Filed 01/21/25 Page 2 of 3 PageID #: 487\n\n\n\n\n proposed schedule for the filing of any consolidated or amended complaint and for any\n\n anticipated motion to dismiss the operative complaint\u201d;\n\n WHEREAS, on January 7, 2025, the Court issued an order appointing Rick Bunney\n\n as Lead Plaintiff, and Glancy Prongay & Murray LLP and Holzer & Holzer, LLC as Co-Lead\n\n Counsel (ECF No. 30);\n\n WHEREAS, on January 15, 2025, the Parties met and conferred and agreed to a\n\n schedule for the filing of a consolidated amended complaint and a briefing schedule for\n\n Defendants\u2019 anticipated motion to dismiss; and\n\n WHEREAS, the Parties\u2019 negotiated schedule will not otherwise affect the schedule of\n\n the case, as discovery is stayed pursuant to the Private Securities Litigation Reform Act and\n\n there are no other events or deadlines currently scheduled;\n\n NOW, THEREFORE, THE PARTIES HEREBY STIPULATE AND AGREE, by\n\n and through their undersigned counsel, and subject to this Court\u2019s approval:\n\n 1. Lead Plaintiff shall file a consolidated amended complaint on or before March\n\n 24, 2025.\n\n 2. Defendants shall respond to the consolidated amended complaint, by filing a\n\n motion to dismiss or otherwise, on or before May 23, 2025.\n\n 3. Lead Plaintiff shall file an opposition to Defendants\u2019 motion to dismiss, if any,\n\n on or before July 22, 2025.\n\n 4. Defendants shall file a reply in support of their motion to dismiss, if any, on or\n\n before September 5, 2025.\n\n\n\n\n 2\n\fCase 1:24-cv-07046-PK Document 31 Filed 01/21/25 Page 3 of 3 PageID #: 488\n\n\n\n\nRespectfully submitted this twenty-first day of January, 2025.\n\n\nGLANCY PRONGAY & MURRAY LLP DAVIS POLK & WARDWELL LLP\n\nBy: /s Gregory B. Linkh By: /s Edmund Polubinski\nGregory B. Linkh Edmund Polubinski\n230 Park Ave. Suite 358 Paulina Perlin\nNew York, New York 10169 450 Lexington Avenue\n(212) 682 5340 New York, New York 10017\nglinkh@glancylaw.com (212) 450-4000\n edmund.polubinski@davispolk.com\nLeanne Heine Solish paulina.perlin@davispolk.com\nCharles H. Linehan\n1925 Century Park East, Suite 2100\nLos Angeles, CA 90067 Mari Grace\n(310) 201-9150 1050 17th Street, NW\nlsolish@glancylaw.com Washington, DC 20036\nclinehan@glancylaw.com (202) 962-7020\n mari.grace@davispolk.com\nHOLZER & HOLZER, LLC\nCorey D. Holzer\n211 Perimeter Center Parkway, Suite 1010 Attorney for Defendants IREN Limited,\nAtlanta, Georgia 30346 Daniel Roberts, William Roberts, and\n(770) 392-0090 Belinda Nucifora\ncholzer@holzerlaw.com\n\nCo-Lead Counsel for Lead Plaintiff Rick\nBunney\n\n\n\n\n IT IS SO ORDERED.\n\n\n Dated:______________, 2025\n New York, New York Hon. Peggy Kuo\n United States Magistrate Judge\n\n\n\n 3\n\f","ocr_status":2,"date_upload":"2025-01-24T11:17:47.668021-08:00","document_number":"31","attachment_number":null,"pacer_doc_id":"123022120819","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Motion for Extension of Time to File Document","acms_document_guid":""}],"date_created":"2025-01-21T18:47:12.791418-08:00","date_modified":"2025-04-18T00:41:16.503020-07:00","date_filed":"2025-01-21","time_filed":"20:22:58","entry_number":31,"recap_sequence_number":"2025-01-21.001","pacer_sequence_number":128,"description":"Joint MOTION for Extension of Time to File Pleading with Stipulation and [Proposed] Order Setting Pleading and Briefing Schedule by Iris Energy Limited, Daniel Roberts, William Roberts, Belinda Nucifora. (Polubinski, Edmund) (Entered: 01/21/2025)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/413030984/","id":413030984,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/428152339/","id":428152339,"tags":[],"absolute_url":"","date_created":"2025-01-24T11:08:16.674787-08:00","date_modified":"2025-04-18T00:41:16.478962-07:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order","acms_document_guid":""}],"date_created":"2025-01-09T03:26:52.094452-08:00","date_modified":"2025-04-18T00:41:16.457853-07:00","date_filed":"2025-01-08","time_filed":null,"entry_number":null,"recap_sequence_number":"2025-01-08.001","pacer_sequence_number":null,"description":"ORDER: The Clerk of Court is respectfully directed to amend the case caption to \"In re Iris Energy Limited Securities Litigation\". Ordered by Magistrate Judge Peggy Kuo on 1/8/2025. (RO)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/413030983/","id":413030983,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/428152338/","id":428152338,"tags":[],"absolute_url":"","date_created":"2025-01-24T11:08:16.569787-08:00","date_modified":"2025-04-18T00:41:16.390349-07:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order on Motion to Adjourn Conference","acms_document_guid":""}],"date_created":"2025-01-09T03:26:52.038900-08:00","date_modified":"2025-04-18T00:41:16.367614-07:00","date_filed":"2025-01-03","time_filed":null,"entry_number":null,"recap_sequence_number":"2025-01-03.002","pacer_sequence_number":null,"description":"ORDER granting 29 Motion to Adjourn Conference. The initial conference previously scheduled for January 28, 2025 is adjourned sine die. Ordered by Magistrate Judge Peggy Kuo on 1/3/2025. (RO)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/413030982/","id":413030982,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/428152337/","id":428152337,"tags":[],"absolute_url":"","date_created":"2025-01-24T11:08:16.396205-08:00","date_modified":"2025-04-18T00:41:15.987467-07:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order on Motion to Appoint Counsel","acms_document_guid":""}],"date_created":"2025-01-09T03:26:51.777662-08:00","date_modified":"2025-04-18T00:41:15.963062-07:00","date_filed":"2024-12-13","time_filed":null,"entry_number":null,"recap_sequence_number":"2024-12-13.001","pacer_sequence_number":null,"description":"ORDER: The 23 Motion to Withdraw the pending 11 Motion to Appoint Counsel is granted. Ordered by Magistrate Judge Peggy Kuo on 12/13/2024. (RO)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/412988815/","id":412988815,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/426540738/","id":426540738,"tags":[],"absolute_url":"","date_created":"2025-01-08T14:45:14.056434-08:00","date_modified":"2025-01-08T14:45:14.060329-08:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order(Other)","acms_document_guid":""}],"date_created":"2025-01-08T14:45:14.046563-08:00","date_modified":"2025-01-08T14:45:14.046574-08:00","date_filed":"2025-01-08","time_filed":"17:34:21","entry_number":null,"recap_sequence_number":"2025-01-08.001","pacer_sequence_number":null,"description":"","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/412865912/","id":412865912,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/426412240/","id":426412240,"tags":[],"absolute_url":"/docket/69231344/30/in-re-iris-energy-limited-securities-litigation/","date_created":"2025-01-07T14:47:23.241333-08:00","date_modified":"2025-04-18T00:41:16.441665-07:00","sha1":"11bed501d5f5813b2c6e6d19f397afda388f8fbc","page_count":8,"file_size":183332,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.30.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.30.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 1 of 8 PageID #: 478\n\n\n\nUNITED STATES DISTRICT COURT\nEASTERN DISTRICT OF NEW YORK\n---------------------------------------------------------------- x\n :\nPAUL WILLIAMS-ISRAEL, :\nIndividually and on behalf of all others similarly situated, :\n : MEMORANDUM\n Plaintiff, : DECISION AND ORDER\n :\n -against- : 24-CV-7046 (PK)\n :\nIRIS ENERGY LIMITED, DANIEL ROBERTS, :\nWILLIAM ROBERTS, and BELINDA :\nNUCIFORA, :\n :\n Defendants.\n\n---------------------------------------------------------------- x\n\nPeggy Kuo, United States Magistrate Judge:\n\n On October 7, 2024, Plaintiff Paul Williams-Israel (\u201cPlaintiff\u201d) brought this securities class\n\naction lawsuit against Iris Energy Limited (\u201cIREN\u201d), its co-founder and Co-Chief Executive Officer\n\nDaniel Roberts, its co-founder and Co-Chief Executive Officer William Roberts, and its Chief\n\nFinancial Officer Belinda Nucifora (collectively, \u201cDefendants\u201d), alleging that they engaged in securities\n\nfraud in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5\n\npromulgated thereunder, with a Class Period between June 20, 2023 and July 11, 2024.\n\n(Complaint (\u201cCompl.\u201d), Dkt. 1.)\n\n Before the Court are four motions pursuant to Section 21D(a)(3)(B) of the Securities\n\nExchange Act of 1934 (\u201cExchange Act\u201d), 15 U.S.C. \u00a7 78u-4(a)(3)(B), as amended by the Private\n\nSecurities Litigation Reform Act of 1995 (the \u201cPSLRA\u201d), for appointment as lead plaintiff and\n\napproval of proposed lead plaintiff\u2019s selection of lead counsel. The movants are Rick Bunney, Ming\n\nLi, Meghan Gregor, and Sandra Maletta. (\u201cBunney\u2019s Motion,\u201d Dkt. 14; \u201cLi\u2019s Motion,\u201d Dkt. 17;\n\n\u201cGregor\u2019s Motion,\u201d Dkt. 18; \u201cMaletta\u2019s Motion,\u201d Dkt. 20.)\n\n\n 1\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 2 of 8 PageID #: 479\n\n\n\n For the reasons stated below, Bunney\u2019s Motion is GRANTED, and Li\u2019s Motion,\n\nGregor\u2019s Motion, and Maletta\u2019s Motion are each DENIED.\n\n DISCUSSION\n\n I. Appointment of Lead Plaintiff\n\n In securities class actions, the PSLRA provides for the appointment of a lead plaintiff and lead\n\ncounsel. The PSLRA requires plaintiffs, within twenty days of filing the complaint, to\n\n cause to be published, in a widely circulated national business-oriented publication or\n wire service, a notice advising members of the purported plaintiff class\u2014\n\n (I) of the pendency of the action, the claims asserted therein, and the purported class\n period; and\n\n (II) that, not later than 60 days after the date on which the notice is published, any\n member of the purported class may move the court to serve as lead plaintiff of the\n purported class.\n\n15 U.S.C. \u00a7 78u-4(a)(3)(A)(i).\n\n Plaintiff published a notice on BusinessWire, a national, business-oriented wire service, the\n\nsame day he filed the Complaint. (Ex. A to Declaration of Gregory Linkh (\u201cLinkh Decl.\u201d) (the\n\n\u201cNotice\u201d), Dkt. 16-1.) See Lemm v. New York Cmty. Bancorp, Inc., 733 F. Supp. 3d 107, 114 (E.D.N.Y.\n\n2024) (finding BusinessWire a \u201csatisfactory\u201d publication in this Circuit for class notice purposes).\n\nThe Notice stated that the lawsuit had been filed, described the claims in the action, and indicated the\n\nClass Period. (Notice at 1.) It also stated a deadline of December 6, 2024\u201460 days from the\n\npublication date of October 7, 2021\u2014to make a motion to be appointed as lead plaintiff. (Id.)\n\n Bunney, Li, Gregor, Maletta, and Dean Gibbons timely filed motions for appointment as lead\n\nplaintiff and approval of lead counsel. See 5 U.S.C. \u00a7 78u-4(a)(3)(A)(i)(II); Fed. R. Civ. P. 6(a); see also\n\n(\u201cGibbons Motion,\u201d Dkt. 11). Gibbons subsequently withdrew his motion (see Dkt. 23), while Li,\n\nGregor, and Maletta each filed a notice stating that they do not oppose Bunney\u2019s Motion,\n\n\n\n 2\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 3 of 8 PageID #: 480\n\n\n\nacknowledging that they do not appear to have the largest financial interest among the movants.\n\n(See Dkts. 24, 25, 26.) Bunney\u2019s Motion is, therefore, unopposed.\n\n With Bunney\u2019s Motion, and in compliance with Section 21D(a)(2) of the Securities Exchange\n\nAct of 1934, 15 U.S.C. \u00a7 78u-4(a)(2), Bunney submitted a certification signed by him, stating that he\n\nhas reviewed the Complaint and authorizes the filing of a comparable complaint on his behalf, that he\n\ndid not purchase or acquire IREN securities at the direction of Plaintiff\u2019s counsel or in order to\n\nparticipate in any private action arising under the Securities Act of 1933 or Securities Exchange Act\n\nof 1934, that he is willing to serve as a class representative, that during the three-year period preceding\n\nthe date of his certification he had not served or sought to serve as a representative party on behalf of\n\na class under the federal securities laws, and that he will not accept payment for serving as a class\n\nrepresentative beyond his pro rata share of any recovery, except such reasonable costs directly relating\n\nto the representation of the class as ordered or approved by the Court. (Ex. B to Linkh Decl. (\u201cBunney\n\nCert.\u201d) \u00b6\u00b6 2-4, 6-7, Dkt. 16-2.) A list of Bunney\u2019s transactions in IREN securities during the Class\n\nPeriod was attached to the certification. (See Bunney Cert. at ECF Page 4; see also Bunney Cert. \u00b6 5.)\n\nIn addition, an analysis of Bunney\u2019s financial interest was filed with Bunney\u2019s Motion. (Ex. C to Linkh\n\nDecl. (\u201cFinancial Interest Analysis\u201d), Dkt. 16-3.)\n\n Under the PSLRA, the court \u201cshall appoint as lead plaintiff the member or members of the\n\npurported plaintiff class that the court determines to be most capable of adequately representing the\n\ninterest of the class members,\u201d known as the \u201cmost adequate plaintiff.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(i).\n\n [T]he court shall adopt a presumption that the most adequate plaintiff in any private\n action \u2026 is the person or group of persons that\u2014\n\n (aa) has either filed the complaint or made a motion in response to a notice under\n subparagraph (A)(i);\n\n (bb) in the determination of the court, has the largest financial interest in the relief\n sought by the class; and\n\n\n 3\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 4 of 8 PageID #: 481\n\n\n\n (cc) otherwise satisfies the requirements of Rule 23 of the Federal Rules of Civil\n Procedure.\n\n15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii)(I). The presumption \u201cmay be rebutted only upon proof by a member\n\nof the purported plaintiff class . . . .\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii)(II).\n\n \u201cIn making the determination of which plaintiff has the greatest financial interest, courts\n\nconsider four factors: (1) the number of shares purchased during the class period; (2) the number of\n\nnet shares purchased during the class period; (3) the total net funds expended during the class period;\n\nand (4) the approximate losses suffered.\u201d Clifford v. TRON Found., No. 20-CV-2804 (VSB), 2020 WL\n\n3577923, at *2 (S.D.N.Y. June 30, 2020) (citing In re eSpeed, Inc. Sec. Litig., 232 F.R.D. 95, 100 (S.D.N.Y.\n\n2005)); see also Xiangdong Chen v. X Fin., No. 19-CV-6908-KAM-SJB, 2020 WL 2478643, at *3\n\n(E.D.N.Y. May 13, 2020). \u201cThe fourth factor, the approximate losses suffered, is considered to be\n\nthe most important.\u201d Xiangdong Chen, 2020 WL 2478643, at *3 (collecting cases); see also Clifford, 2020\n\nWL 3577923, at *2.\n\n Plaintiff alleges that, following the publication of a report by Culper Research during market\n\nhours on July 11, 2024 in which Culper Research stated it believed IREN \u201cdramatically misrepresented\n\nthe strength and potential of its assets,\u201d IREN\u2019s share price fell $2.03 (15.3%, or 13.1% as compared\n\nto the prior day\u2019s closing price) to a closing price of $11.20 per share that same day. (Compl. \u00b6\u00b6\n\n57-58, 89.)\n\n On July 9 and 10, 2024, Bunney purchased 139,903.995 shares of IREN for $1,802,562.0632.\n\n(Financial Interest Analysis at 2; see also Bunney Cert. at 4.) On July 10 and 11, 2024, he sold all\n\n139,903.995 shares of IREN for $1,678,922.4067. (Id.) Thus, during the Class Period, he incurred a\n\nnet loss of $123,639.66. (Id.)\n\n\n\n\n 4\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 5 of 8 PageID #: 482\n\n\n\n The other movants do not dispute that Bunney has the largest financial interest among them.\n\n(See Dkts. 23, 24, 25, 26.) Because no other movant for appointment as lead plaintiff has shown a\n\ngreater loss, Bunney has the largest financial interest in the relief sought. 1\n\n Bunney also satisfies the requirements of Rule 23 of the Federal Rules of Civil Procedure. The\n\nCourt need only consider \u201cwhether the proposed plaintiff has made a \u2018preliminary showing\u2019 that two\n\nRule 23 requirements\u2014typicality and adequacy\u2014are satisfied.\u201d Xiangdong Chen, 2020 WL 2478643,\n\nat *4 (citing cases); see also Omdahl v. Farfetch Limited, No. 19-CV-8657 (AJN), 2020 WL 3072291, at *3\n\n(S.D.N.Y. June 10, 2020) (citing In re Deutsche Bank Aktiengesellschaft Sec. Litig., No. 16-CV-03495 (CM),\n\n2016 WL 5867497, at *4 (S.D.N.Y. Oct. 4, 2016)).\n\n To establish typicality under Rule 23(a)(3), a prospective lead plaintiff must show that each\n\nclass member\u2019s claim, including the prospective lead plaintiff\u2019s, arises from the same course of events,\n\nand each class member, including the prospective lead plaintiff, makes similar legal arguments to prove\n\nthe defendant\u2019s liability. In re Flag Telecom Holdings, Ltd. Sec. Litig., 574 F.3d 29, 35 (2d Cir. 2009) (citing\n\nRobidoux v. Celani, 987 F.2d 931, 936 (2d Cir. 1993)). \u201cA lead plaintiff\u2019s claims \u2018need not be identical\n\nto the claims of the class to satisfy the typicality requirement.\u2019\u201d Kuriakose v. Fed. Home Loan Mortg. Co.,\n\nNo. 08-CV-7281 (JFK), 2008 WL 4974839, at *4 (S.D.N.Y. Nov. 24, 2008) (quoting Pirelli Armstrong\n\nTire Corp. Retiree Med. Benefits Tr. v. LaBranche & Co., 229 F.R.D. 395, 412 (S.D.N.Y. 2004)).\n\n Bunney\u2019s claims are typical of the class because he purchased IREN securities during the Class\n\nPeriod and suffered losses he claims were due to Defendants\u2019 false and misleading statements.\n\nThe purported class is \u201call persons other than defendants who acquired IREN securities publicly\n\ntraded on NASDAQ during the Class Period, and who were damaged thereby.\u201d (Compl. \u00b6 91.)\n\nBecause Bunney acquired publicly traded IREN securities during the Class Period and claims to have\n\n\n1 Movant Li claimed estimated losses of $108,519.85 (Li Mem. of Law at 4, Dkt. 19); movant Gregor claimed\n\nestimated losses of $5,414.00 (Gregor Mem. of Law at 6, Dkt. 18-2); and movant Maletta claimed estimated\nlosses of $92,939.33 (Maletta Mem. of Law at 7, Dkt. 21).\n 5\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 6 of 8 PageID #: 483\n\n\n\nbeen damaged thereby, and because the class members will necessarily make similar legal arguments\n\nin support of their claims, Bunney has established typicality.\n\n Adequacy \u201centails inquiry as to whether: (1) plaintiff\u2019s interests are antagonistic to the interest\n\nof other members of the class and (2) plaintiff\u2019s attorneys are qualified, experienced and able to\n\nconduct the litigation.\u201d Flag Telecom Holdings, 574 F.3d at 35 (citing Baffa v. Donaldson, Lufkin & Jenrette\n\nSec. Corp., 222 F.3d 52, 60 (2d Cir. 2000)).\n\n Courts find that a plaintiff\u2019s interests are not antagonistic to the class where the case is \u201cbased\n\non alleged violations of the Securities Act where class members are relying on the same statements or\n\nomissions as the factual basis of their claims, and where the financial losses are tied to the drop in\n\nvalue\u201d as a result of the false or misleading statements. See Xiangdong Chen, 2020 WL 2478643, at *4\n\n(losses tied to drop in value that occurred after IPO); see also Quan v. Advanced Battery Techs., Inc.,\n\nNo. 11-CV-2279 (CM), 2011 WL 4343802, at *3 (S.D.N.Y. Sept. 9, 2011) (finding movant \u201csuffered\n\nlosses as a result of [the company\u2019s] false and misleading statements during the same period as the\n\nother movants, plaintiffs, and potential class members, and . . . he is alleging violations of the same\n\nprovisions of the [Exchange Act], against the same defendants as the other parties\u201d). All class\n\nmembers, including Bunney, are relying on the same misrepresentations by Defendants referred to in\n\nCulper Research\u2019s report as the basis of their claims, and all their financial losses are tied to the alleged\n\nresultant drop in value of IREN shares. The Court, therefore, finds that Bunney\u2019s interests are not\n\nantagonistic to the class.\n\n Bunney\u2019s selections for co-lead counsel, Glancy Prongay & Murray LLP (\u201cGPM\u201d) and Holzer\n\n& Holzer, LLC (\u201cHolzer\u201d) are qualified and experienced counsel who are able to conduct the litigation.\n\nGPM has successfully prosecuted class action cases and complex litigation in federal and state courts\n\nthroughout the country, achieving significant recoveries for class members in numerous securities\n\nclass actions. (See GPM Firm Resume at 1-4, Ex. D to Linkh Decl., Dkt. 16-4.) Holzer has, likewise,\n\n 6\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 7 of 8 PageID #: 484\n\n\n\nrepresented clients in federal courts nationwide and recovered tens of millions of dollars on behalf of\n\ninvestors through shareholder class litigation, currently serving as co-lead counsel in several securities\n\nclass actions and previously having reached settlements in others. (See Holzer Firm Resume at 1-4,\n\nEx. E to Linkh Decl., Dkt. 16-5.)\n\n Therefore, Bunney satisfies the adequacy requirement.\n\n Because no other class member has provided any proof to rebut Bunney\u2019s showing and the\n\nother movants for lead plaintiff have indicated they do not oppose Bunney\u2019s Motion, the presumption\n\nin the PLSRA that Bunney is the most adequate plaintiff stands. See, e.g., Clifford, 2020 WL 3577923,\n\nat *3 (\u201cIn the absence of any competing motions, \u2026 there is no basis to rebut Movants\u2019 presumptive\n\nlead plaintiff status in this case\u201d). Accordingly, Bunney\u2019s Motion to be appointed as lead plaintiff is\n\ngranted, and Li\u2019s Motion, Gregor\u2019s Motion, and Maletta\u2019s Motion are each denied.\n\n II. Appointment of Lead Counsel\n\n The PLSRA requires that \u201c[t]he most adequate plaintiff shall, subject to the approval of the\n\ncourt, select and retain counsel to represent the class.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(v). Courts defer to\n\na plaintiff\u2019s selection of counsel \u201c\u2018and will only reject the plaintiff\u2019s choice . . . if necessary to protect\n\nthe interests of the class.\u2019\u201d Xiangdong Chen, 2020 WL 2478643, at *5 (quoting Bray v. Frontier Commc\u2019ns\n\nCorp., No. 17-CV-1617, 2018 WL 525485, at *11 (D. Conn. Jan. 18, 2018)). As discussed supra,\n\nBunney\u2019s chosen co-lead counsels, GPM and Holzer, each have substantial experience in litigating\n\ncomplex securities class actions on behalf of plaintiffs and have served as lead or co-lead counsel in\n\nnumerous securities class actions. The Court, therefore, finds no reason to disturb Bunney\u2019s selection\n\nof lead counsel.\n\n\n\n\n 7\n\fCase 1:24-cv-07046-PK Document 30 Filed 01/07/25 Page 8 of 8 PageID #: 485\n\n\n\n CONCLUSION\n\n For the foregoing reasons, Bunney\u2019s Motion is GRANTED, Bunney is appointed as lead\n\nplaintiff, and GPM and Holzer are appointed as co-lead counsel. Li\u2019s Motion, Gregor\u2019s Motion, and\n\nMaletta\u2019s Motion are each DENIED.\n\n SO ORDERED:\n\n Peggy Kuo\n PEGGY KUO\n United States Magistrate Judge\nDated: January 7, 2025\n Brooklyn, New York\n\n\n\n\n 8\n\f","ocr_status":2,"date_upload":"2025-01-24T11:15:36.904662-08:00","document_number":"30","attachment_number":null,"pacer_doc_id":"123022074974","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Order on Motion to Appoint Counsel","acms_document_guid":""}],"date_created":"2025-01-07T14:47:23.168196-08:00","date_modified":"2025-04-18T00:41:16.409735-07:00","date_filed":"2025-01-07","time_filed":"17:22:20","entry_number":30,"recap_sequence_number":"2025-01-07.001","pacer_sequence_number":119,"description":"DECISION AND ORDER: For the reasons stated in the attached Decision and Order, Movant Rick Bunney's 14 Motion for Appointment as Lead Plaintiff and Approval of Co-Lead Counsel is GRANTED. Rick Bunney is appointed as lead plaintiff, and Glancy Prongay & Murray LLP and Holzer & Holzer, LLC are appointed as co-lead counsel. Movants Ming Li, Meghan Gregor, and Sandra Maletta's 17, 18, and 20 Motions for Appointment as Lead Plaintiff and Approval of Lead Counsel are DENIED. Ordered by Magistrate Judge Peggy Kuo on January 7, 2025. (ZM) (Entered: 01/07/2025)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/412544124/","id":412544124,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/426001359/","id":426001359,"tags":[],"absolute_url":"","date_created":"2025-01-03T11:00:53.718732-08:00","date_modified":"2025-01-03T11:00:53.722402-08:00","sha1":"","page_count":null,"file_size":null,"filepath_local":null,"filepath_ia":"","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"","ocr_status":null,"date_upload":null,"document_number":"","attachment_number":null,"pacer_doc_id":"","is_available":false,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"1 - Terminate Deadlines and Hearings AND Order on Motion to Adjourn Conference","acms_document_guid":""}],"date_created":"2025-01-03T11:00:53.709893-08:00","date_modified":"2025-01-03T11:00:53.709904-08:00","date_filed":"2025-01-03","time_filed":"13:52:27","entry_number":null,"recap_sequence_number":"2025-01-03.001","pacer_sequence_number":null,"description":"","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/412506674/","id":412506674,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/425944506/","id":425944506,"tags":[],"absolute_url":"/docket/69231344/29/in-re-iris-energy-limited-securities-litigation/","date_created":"2025-01-03T06:20:37.299014-08:00","date_modified":"2025-04-18T00:41:16.347252-07:00","sha1":"6dbe0692a4b5e3743d5828d0c06072b92993366c","page_count":2,"file_size":125360,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.29.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.29.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 29 Filed 01/03/25 Page 1 of 2 PageID #: 476\n DRAFT\n Mari Grace Davis Polk & Wardwell LLP\n +1 202 962 7020 901 15th Street, NW\n mari.grace@davispolk.com Washington DC 20005\n davispolk.com\n\n\n\n\n January 3, 2024\n\n Re: Williams-Israel v. Iris Energy Limited, et al., 1:24-cv-07046\n\n The Honorable Peggy Kuo\n United States District Court\n Eastern District of New York\n 225 Cadman Plaza East\n Brooklyn, New York 11201\n\n\n\n Dear Judge Kuo:\n\n We represent IREN Limited (f/k/a Iris Energy Limited), Daniel Roberts, William Roberts, and Belinda\n Nucifora (collectively, \u201cDefendants\u201d) in the above-referenced action. Pursuant to Rule III(C) of the Court\u2019s\n Individual Practices in Civil Cases, we write to request that the Court adjourn the initial conference currently\n scheduled for January 28, 2025 at 10:30am (ECF No. 5) until after the resolution of pending lead plaintiff\n motions and Defendants\u2019 anticipated motion to dismiss the operative complaint in this action. This is the\n first such request for an adjournment.\n\n This case is a putative class action asserting federal securities claims that are governed by the Private\n Securities Litigation Reform Act of 1995 (\u201cPSLRA\u201d). See 15 U.S.C. \u00a7 78u-4 et seq. Under the PSLRA, \u201call\n discovery and other proceedings shall be stayed during the pendency of any motion to dismiss, unless the\n court finds upon the motion of any party that particularized discovery is necessary to preserve evidence or\n to prevent undue prejudice to that party.\u201d 15 U.S.C. \u00a7 78u-4(3)(B)(iv); see also Merrill Lynch, Pierce,\n Fenner & Smith Inc. v. Dabit, 547 U.S. 71, 81 (2006) (\u201cTitle I of the [PSLRA] . . . authorize[s] a stay of\n discovery pending resolution of any motion to dismiss.\u201d). The PSLRA also requires the appointment of a\n lead plaintiff and lead counsel of the purported class, (15 U.S.C. \u00a7 78u-4(3)(B)), and several motions for\n appointment as lead plaintiff and lead counsel have been filed and are currently pending before the Court\n (ECF No. 14, 17, 18, 20). Pursuant to the Court\u2019s October 21, 2024 Order granting Defendants\u2019 motion for\n extension of time to answer the complaint, once the Court appoints a lead plaintiff and lead counsel in this\n action, counsel for Defendants will meet and confer with lead counsel regarding a proposed schedule for\n the filing of any consolidated or amended complaint and for the anticipated motion to dismiss the operative\n complaint. We therefore respectfully request that the initial conference scheduled for January 28, 2025, be\n adjourned pending resolution of the lead plaintiff motions and the adjudication of Defendants\u2019 anticipated\n motion to dismiss.\n\n Plaintiff Paul Williams-Israel, who filed the initial complaint, and Plaintiff Rick Bunney, who is the only\n plaintiff still pursuing a motion to be appointed as lead plaintiff, join in this request that the initial conference\n be adjourned. Of course, the parties are happy to appear at any time to discuss any issues the Court would\n like to address.\n\fCase 1:24-cv-07046-PK Document 29 Filed 01/03/25 Page 2 of 2 PageID #: 477\n DRAFT\n\n\n\n\n Respectfully submitted,\n\n\n\n /s/ Mari Grace\n Mari Grace\n\n\n\n cc: All counsel of record\n\n Via Electronic Filing\n\n\n\n\n January 3, 2024 2\n\f","ocr_status":2,"date_upload":"2025-01-24T11:15:19.357265-08:00","document_number":"29","attachment_number":null,"pacer_doc_id":"123022060629","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Motion to Adjourn Conference","acms_document_guid":""}],"date_created":"2025-01-03T06:20:37.202033-08:00","date_modified":"2025-04-18T00:41:16.317883-07:00","date_filed":"2025-01-03","time_filed":"09:12:31","entry_number":29,"recap_sequence_number":"2025-01-03.001","pacer_sequence_number":114,"description":"Letter MOTION to Adjourn Conference (Initial Conference) by Iris Energy Limited, Daniel Roberts, William Roberts, Belinda Nucifora. (Grace, Mari) (Entered: 01/03/2025)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/412128779/","id":412128779,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/425396796/","id":425396796,"tags":[],"absolute_url":"/docket/69231344/28/in-re-iris-energy-limited-securities-litigation/","date_created":"2024-12-27T16:03:12.655357-08:00","date_modified":"2025-04-18T00:41:16.280589-07:00","sha1":"f35f99c97e4759cbb5bb58dedfe871b88c010691","page_count":4,"file_size":136694,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.28.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.28.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 28 Filed 12/27/24 Page 1 of 4 PageID #: 472\n\n\n\n\n UNITED STATES DISTRICT COURT\n EASTERN DISTRICT OF NEW YORK\n\n PAUL WILLIAMS-ISRAEL, Individually Case No. 1:24-cv-07046-PK\n and on behalf of all others similarly situated,\n\n Plaintiff,\n\n v.\n\n IRIS ENERGY LIMITED, DANIEL\n ROBERTS, WILLIAM ROBERTS, and\n BELINDA NUCIFORA\n\n Defendants.\n\n\n RICK BUNNEY\u2019S REPLY MEMORANDUM OF LAW IN FURTHER SUPPORT OF\n HIS MOTION FOR APPOINTMENT AS LEAD PLAINTIFF AND APPROVAL OF\n COUNSEL\n\fCase 1:24-cv-07046-PK Document 28 Filed 12/27/24 Page 2 of 4 PageID #: 473\n\n\n\n\n Lead Plaintiff Movant Rick Bunney (\u201cBunney\u201d) submits this reply memorandum of law in\n\nfurther support of his motion for appointment as lead plaintiff and approval of lead counsel (Dkt.\n\nNo. 14, the \u201cMotion\u201d).\n\n Bunney\u2019s Motion is not opposed. Four other investors originally filed motions requesting\n\nappointment as lead plaintiff and approval of counsel, but each one either withdrew their motions\n\nor filed notices informing the Court that they do not oppose Bunney\u2019s motion. See Dkt. Nos. 23,\n\n24, 25, 26. The deadline for any other party to file an opposition to Bunney\u2019s Motion was\n\nDecember 20, 2024. The deadline passed and no opposition was filed.\n\n Indeed, Bunney should be appointed as lead plaintiff because, as the other movants do not\n\ncontest, he has the largest financial interest in the relief sought by the class, and is otherwise\n\nadequate to represent the class. See 15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii)(I).\n\n As such, Bunney respectfully requests that the Court enter the Proposed Order (Dkt. No.\n\n14-1): (1) appointing Bunney as Lead Plaintiff; and (2) approving Bunney\u2019s selection of Glancy\n\nProngay & Murray LLP and Holzer & Holzer, LLC as Co-Lead Counsel for the class.\n\n\n Respectfully submitted,\n\nDATED: December 27, 2024 GLANCY PRONGAY & MURRAY LLP\n\n By: /s/ Gregory B. Linkh\n Gregory B. Linkh (GL-0477)\n 230 Park Ave., Suite 358\n New York, NY 10169\n Telephone: (212) 682-5340\n Facsimile: (212) 884-0988\n glinkh@glancylaw.com\n\n Robert V. Prongay\n Charles H. Linehan\n 1925 Century Bunney East, Suite 2100\n Los Angeles, CA 90067\n Telephone: (310) 201-9150\n\n\n\n 1\n\fCase 1:24-cv-07046-PK Document 28 Filed 12/27/24 Page 3 of 4 PageID #: 474\n\n\n\n\n Facsimile: (310) 201-9160\n\n HOLZER & HOLZER, LLC\n Corey D. Holzer\n 211 Perimeter Center Parkway, Suite 1010\n Atlanta, Georgia 30346\n Telephone: (770) 392-0090\n Facsimile: (770) 392-0029\n\n Counsel for Rick Bunney and Proposed Co-Lead\n Counsel for the Class\n\n\n\n\n 2\n\fCase 1:24-cv-07046-PK Document 28 Filed 12/27/24 Page 4 of 4 PageID #: 475\n\n\n\n\n PROOF OF SERVICE\n\n I, the undersigned say:\n\n I am not a party to the above case and am over eighteen years old.\n\n On December 27, 2024, I served true and correct copies of the foregoing document, by\n\nposting the document electronically to the ECF website of the United States District Court for the\n\nEastern District of New York, for receipt electronically by the parties listed on the Court\u2019s Service\n\nList.\n\n I affirm under penalty of perjury under the laws of the United States of America that the\n\nforegoing is true and correct. Executed on December 27, 2024, at Brooklyn, New York.\n\n /s/ Gregory B. Linkh\n Gregory B. Linkh\n\f","ocr_status":2,"date_upload":"2025-01-24T11:15:07.679934-08:00","document_number":"28","attachment_number":null,"pacer_doc_id":"123022049398","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Reply in Support","acms_document_guid":""}],"date_created":"2024-12-27T16:03:12.636702-08:00","date_modified":"2025-04-18T00:41:16.241953-07:00","date_filed":"2024-12-27","time_filed":"18:57:59","entry_number":28,"recap_sequence_number":"2024-12-27.001","pacer_sequence_number":111,"description":"REPLY in Support re 14 MOTION to Appoint Counsel and Appoint Lead Plaintiff / Rick Bunneys Reply Memorandum of Law In Further Support of His Motion for Appointment as Lead Plaintiff and Approval of Counsel filed by Rick Bunney. (Linkh, Gregory) (Entered: 12/27/2024)","tags":[]},{"resource_uri":"https://www.courtlistener.com/api/rest/v4/docket-entries/411742070/","id":411742070,"docket":"https://www.courtlistener.com/api/rest/v4/dockets/69231344/","recap_documents":[{"resource_uri":"https://www.courtlistener.com/api/rest/v4/recap-documents/424902670/","id":424902670,"tags":[],"absolute_url":"/docket/69231344/27/in-re-iris-energy-limited-securities-litigation/","date_created":"2024-12-20T14:07:53.554191-08:00","date_modified":"2025-04-18T00:41:16.210419-07:00","sha1":"1deb68efaef441ce0b9281fae6e03dd64618a061","page_count":7,"file_size":129086,"filepath_local":"recap/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.27.0.pdf","filepath_ia":"https://archive.org/download/gov.uscourts.nyed.521906/gov.uscourts.nyed.521906.27.0.pdf","ia_upload_failure_count":null,"thumbnail":null,"thumbnail_status":0,"plain_text":"Case 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 1 of 7 PageID #: 465\n\n\n\n\n UNITED STATES DISTRICT COURT\n EASTERN DISTRICT OF NEW YORK\n\nPAUL WILLIAMS-ISRAEL, Individually Case No. 1:24-cv-07046-PK\nand on behalf of all others similarly\nsituated,\n\n Plaintiff,\n\n v.\n\nIRIS ENERGY LIMITED, DANIEL\nROBERTS, WILLIAM ROBERTS, and\nBELINDA NUCIFORA\n\n Defendants.\n\n\nRICK BUNNEY\u2019S MEMORANDUM OF LAW IN OPPOSITION TO THE COMPETING\n MOTIONS FOR APPOINTMENT AS LEAD PLAINTIFF AND APPROVAL OF\n COUNSEL\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 2 of 7 PageID #: 466\n\n\n\n\n Lead Plaintiff Movant Rick Bunney (\u201cBunney\u201d) submits this memorandum of law in\n\nopposition to the four competing motions for appointment as lead plaintiff and approval of lead\n\ncounsel filed by other putative class members (Dkt. Nos. 11, 17, 18, 20), and in support of his\n\nmotion (Dkt. No. 14). Bunny should be appointed lead plaintiff and his selection of counsel\n\nshould be approved because he has the largest financial interest and is adequate to represent the\n\nclass.\n\nI. PRELIMINARY STATEMENT\n\n Five movants filed competing motions for appointment as lead plaintiff and approval of\n\nlead counsel pursuant to the Private Securities Litigation Reform Act of 1995 (the \u201cPSLRA\u201d).\n\nThe motions were filed by Bunney (Dkt. No. 14); Sandra Maletta (\u201cMaletta\u201d) (Dkt. No. 20);\n\nDean Gibbons (\u201cGibbons\u201d) (Dkt. No. 11); Meghan Gregor (\u201cGregor\u201d) (Dkt. No. 18); and Ming\n\nLi (\u201cLi\u201d) (Dkt. No. 17). However, all movants other than Bunney have effectively abandoned\n\ntheir motions by withdrawing their motions or filing notices informing the court that they do not\n\noppose the competing motions on the basis that they do not have the largest financial interest.\n\nSee Dkt. Nos. 23, 24, 25, 26. As such, only Bunney is still actively seeking appointment as lead\n\nplaintiff.\n\n The PSLRA directs the Court to appoint the \u201cmost adequate plaintiff\u201d as lead plaintiff,\n\nand provides a rebuttable presumption that the most adequate plaintiff is the plaintiff or movant\n\nwith the \u201clargest financial interest in the relief sought by the class\u201d who otherwise satisfies the\n\nrequirements of Rule 23 of the Federal Rules of Civil Procedure (hereinafter \u201cRule 23\u201d). 15\n\nU.S.C. \u00a7 78u-4(a)(3)(B)(iii)(I). The presumption may be rebutted only by a showing that the\n\npresumptively most adequate plaintiff \u201cwill not fairly and adequately protect the interests of the\n\nclass\u201d or \u201cis subject to unique defenses.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii)(II). If the presumption\n\nis not rebutted, the presumptively most adequate plaintiff should be appointed as lead plaintiff.\n\n\n 1\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 3 of 7 PageID #: 467\n\n\n\n\n As demonstrated in Bunney\u2019s memorandum of law in support of his lead plaintiff motion\n\n(Dkt. No. 15), Bunney has the largest financial interest in the relief sought by the class, claiming\n\na loss of $123,639.66, and satisfies the requirements of Rule 23. As such, Bunney is the\n\npresumptively \u201cmost adequate plaintiff.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii).\n\n Since Bunney is the presumptively most adequate plaintiff, and the presumption has not\n\nbeen rebutted, Bunney should be appointed lead plaintiff, and his selection of counsel should be\n\napproved.1\n\nII. BUNNEY IS THE PRESUMPTIVELY MOST ADEQUATE PLAINTIFF TO BE\n APPOINTED AS LEAD PLAINTIFF\n\n Bunney satisfies all three requirements to be the presumptively most adequate plaintiff\n\nsince he filed a timely motion, satisfies the relevant requirements of Rule 23, and as explained\n\ninfra, has the largest financial interest in the relief sought by the class. See 15 U.S.C. \u00a7 78u-\n\n4(a)(3)(B)(iii)(I).\n\n While the PSLRA does not specify a means of calculating the \u201clargest financial interest\u201d\n\namong movants, courts typically consider: (1) the number of shares purchased during the class\n\nperiod; (2) the number of net shares purchased during the class period; (3) the total net funds\n\nexpended during the class period; and (4) the approximate losses suffered. See Lee Goodman Tr.\n\nv. Wheels Up Experience Inc., No. 23-cv-2900, 2023 WL 8631014, at *2 (E.D.N.Y. Dec. 12,\n\n2023). Of these factors, losses suffered is the most important. See id. Moreover, the\n\n\u201coverwhelming trend both in this district and nationwide\u201d is to use the last in, first out (\u201cLIFO\u201d)\n\nmethod to calculate losses. See Marquez v. Bright Health Grp., Inc., 2022 WL 1314812, at *5\n\n(E.D.N.Y. Apr. 26, 2022) (citation omitted).\n\n\n\n1\n \u201cThe most adequate plaintiff shall, subject to the approval of the court, select and retain counsel\nto represent the class.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(v).\n\n\n 2\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 4 of 7 PageID #: 468\n\n\n\n\n Here, Bunney has a larger financial interest than the other movants as measured by every\n\nfactor:\n\n Gross Shares Net Shares Net\n Movant LIFO Loss\n Purchased Purchased2 Expenditure\n Bunney 139,904 80,111 $998,865 $123,640\n Maletta 28,000 28,000 $333,786 $91,443\n Gibbons 17,739 7,489 $109,113 $44,932\n Gregor 1,643 1,155 $16,966 $5,413\n Li 26,700 0 (gain) $485 (gain) $934\n\nAs such, Bunney has the largest financial interest.\n\n Notably, Li\u2019s LIFO loss differs substantially from his first in, first out (\u201cFIFO\u201d) loss he\n\nsubmitted with his initial motion. See Dkt. No. 19-3. However, courts generally reject FIFO\n\nbecause it \u201cignores sales occurring during the class period and hence may exaggerate losses.\u201d\n\nAtanasio v. Tenaris S.A., 331 F.R.D. 21, 27 (E.D.N.Y. 2019) (citation omitted).\n\n Since Bunney has the largest financial interest, filed a timely motion, and satisfies the\n\nrequirements of Rule 23, he is the presumptively most adequate plaintiff to be appointed as lead\n\nplaintiff. See 15 U.S.C. \u00a7 78u\u20134(a)(3)(B)(iii)(I).\n\nIII. THE PRESUMPTION THAT BUNNEY IS THE MOST ADEQUATE PLAINTIFF\n HAS NOT BEEN REBUTTED\n\n The lead plaintiff presumption may be rebutted only upon \u201cproof\u201d that the presumptively\n\nmost adequate plaintiff \u201cwill not fairly and adequately protect the interests of the class,\u201d or \u201cis\n\nsubject to unique defenses that render such plaintiff incapable of adequately representing the\n\nclass.\u201d 15 U.S.C. \u00a7 78u-4(a)(3)(B)(iii)(II). No movant has even attempted to demonstrate that\n\nBunney is inadequate. Bunney is a sophisticated individual, an IT Consulting Principal, and has\n\n\n\n2\n The corrective disclosure in this action occurred during market hours on July 11, 2024. See\nDkt. No. 1 \u00b6 57. Bunny\u2019s sales on July 11, 2024 (see Dkt. No. 16-3) occurred after the corrective\ndisclosure.\n\n\n 3\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 5 of 7 PageID #: 469\n\n\n\n\nthe ability to adequately represent the class. As such, Bunney should be appointed as lead\n\nplaintiff, and no other movant is entitled to consideration.\n\nIV. BUNNEY\u2019S SELECTION OF COUNSEL SHOULD BE APPROVED\n\n The PSLRA vests authority in the lead plaintiff to select and retain counsel, subject only\n\nto the Court\u2019s approval. See 15 U.S.C. \u00a7 78u-4(a)(3)(B)(v). Glancy Prongay & Murray LLP and\n\nHolzer & Holzer, LLC have the expertise, resources, and experience needed to effectively\n\nconduct this litigation. See Dkt. Nos. 16-4, 16-5. (firm r\u00e9sum\u00e9s). The firms have decades of\n\nexperience successfully representing injured investors. See id. By approving Bunney\u2019s selection\n\nof counsel, the Court will ensure that the class will receive the highest caliber of legal\n\nrepresentation. Accordingly, Bunney\u2019s selection of lead counsel for the class should be\n\napproved.\n\nV. CONCLUSION\n\n For the foregoing reasons, Bunney respectfully requests that the Court grant his motion\n\nand enter an order: (1) appointing Bunney as lead plaintiff; (2) approving his selection of Glancy\n\nProngay & Murray LLP and Holzer & Holzer, LLC as co-lead counsel for the class; and (3)\n\ndenying the competing motions.\n\n\n Respectfully submitted,\n\nDATED: December 20, 2024 GLANCY PRONGAY & MURRAY LLP\n\n By: /s/ Gregory B. Linkh\n Gregory B. Linkh (GL-0477)\n 230 Bunney Ave., Suite 358\n New York, NY 10169\n Telephone: (212) 682-5340\n Facsimile: (212) 884-0988\n glinkh@glancylaw.com\n\n\n\n\n 4\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 6 of 7 PageID #: 470\n\n\n\n\n Robert V. Prongay\n Charles H. Linehan\n 1925 Century Park East, Suite 2100\n Los Angeles, CA 90067\n Telephone: (310) 201-9150\n Facsimile: (310) 201-9160\n\n HOLZER & HOLZER, LLC\n Corey D. Holzer\n 211 Perimeter Center Parkway, Suite 1010\n Atlanta, Georgia 30346\n Telephone: (770) 392-0090\n Facsimile: (770) 392-0029\n\n Counsel for Rick Bunney and Proposed Co-Lead\n Counsel for the Class\n\n\n\n\n 5\n\fCase 1:24-cv-07046-PK Document 27 Filed 12/20/24 Page 7 of 7 PageID #: 471\n\n\n\n\n PROOF OF SERVICE\n\n I, the undersigned say:\n\n I am not a party to the above case and am over eighteen years old.\n\n On December 20, 2024, I served true and correct copies of the foregoing document, by\n\nposting the document electronically to the ECF website of the United States District Court for\n\nthe Eastern District of New York, for receipt electronically by the parties listed on the Court\u2019s\n\nService List.\n\n I affirm under penalty of perjury under the laws of the United States of America that the\n\nforegoing is true and correct. Executed on December 20, 2024, at New York, New York.\n\n /s/ Gregory B. Linkh\n Gregory B. Linkh\n\f","ocr_status":2,"date_upload":"2025-01-24T11:14:49.470771-08:00","document_number":"27","attachment_number":null,"pacer_doc_id":"123022035978","is_available":true,"is_free_on_pacer":null,"is_sealed":null,"document_type":1,"description":"Response in Opposition to Motion","acms_document_guid":""}],"date_created":"2024-12-20T14:07:53.468418-08:00","date_modified":"2025-04-18T00:41:16.171342-07:00","date_filed":"2024-12-20","time_filed":"16:54:13","entry_number":27,"recap_sequence_number":"2024-12-20.003","pacer_sequence_number":106,"description":"RESPONSE in Opposition re 20 MOTION to Appoint Counsel and Appoint Lead Plaintiff, 17 MOTION to Appoint Counsel and Appoint Lead Plaintiff, 18 MOTION to Appoint Counsel MOTION FOR APPOINTMENT AS LEAD PLAINTIFF AND APPROVAL OF LEAD COUNSEL filed by Rick Bunney. (Linkh, Gregory) (Entered: 12/20/2024)","tags":[]}],"entries_total":"https://www.courtlistener.com/api/rest/v4/docket-entries/?count=on&docket=69231344&page_size=40"}