Los Angeles - 
(NewMediaWire) - May 27, 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 brian@schallfirm.com.
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.
This press release may
be considered Attorney Advertising in some jurisdictions under the applicable
law and rules of ethics.
CONTACT:
The Schall
Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
SOURCE:
The Schall Law Firm
