Los Angeles, CA - (NewMediaWire) - April 21, 2021 - The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Canaan Inc. (“Canaan” or “the Company”) (NASDAQ: CAN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between February 10, 2021 and April 9, 2021, inclusive (the ''Class Period''), are encouraged to contact the firm before June 14, 2021.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Canaan experienced ongoing supply chain problems in the fourth quarter of 2020. The Company’s new A12 series bitcoin mining machines cannibalized the sales of its older equipment in the same period. The Company’s sales and revenues fell sharply for the quarter as a result. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Canaan, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.,
The Schall Law Firm