The complaint, spearheaded by Robbins LLP, claims that BitGo’s IPO-related offering documents contained material inaccuracies or omissions. Plaintiffs allege that the company failed to adequately disclose the severity of risks posed by declining digital asset prices to its financial stability. According to court filings, these oversights left investors with an incomplete picture of the company's prospects as a public entity.

The volatility in BitGo’s financial position became public on March 26, 2026, when the firm reported a $14.8 million net loss for 2025, a sharp reversal from the $156.6 million net income posted in 2024. BitGo attributed the downturn to the impact of falling asset prices on its Bitcoin treasury. Following the announcement, share prices dropped 15.71%, closing at $7.67 on March 27. Investors seeking to serve as lead plaintiff must file their applications by August 7, 2026.