Adrienne Bell, Esq. (484) 270-1435
Toll free (844) 887-9500
Canaan designs, manufactures and sells bitcoin mining machines, primarily in the Peoples Republic of China.
The complaint alleges that, throughout the Class Period, the defendants concealed from the investing public that: (1) Canaan had experienced significant ongoing supply chain disruptions during the fourth quarter 2020; (2) the introduction of Canaan s next-generation A12 series bitcoin mining machines had cannibalized sales of the older product offerings during the fourth quarter 2020; (3) as a result of the foregoing, Canaan s fourth quarter 2020 sales and sales revenues had declined dramatically; and (4) as a result of the foregoing, Canaan was not on track to achieve the strong financial prospects it had led the market to believe.
/PRNewswire/ The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors of Canaan Inc. (NASDAQ: CAN) ("Canaan") that a securities fraud class.
Adrienne Bell, Esq. (484) 270-1435
Toll free (844) 887-9500
Canaan designs, manufactures and sells bitcoin mining machines, primarily in the Peoples Republic of China.
The complaint alleges that, throughout the Class Period, the defendants concealed from the investing public that: (1) Canaan had experienced significant ongoing supply chain disruptions during the fourth quarter 2020; (2) the introduction of Canaan s next-generation A12 series bitcoin mining machines had cannibalized sales of the older product offerings during the fourth quarter 2020; (3) as a result of the foregoing, Canaan s fourth quarter 2020 sales and sales revenues had declined dramatically; and (4) as a result of the foregoing, Canaan was not on track to achieve the strong financial prospects it had led the market to believe.
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RADNOR, Pa., May 02, 2021 (GLOBE NEWSWIRE) The law firm of Kessler Topaz Meltzer & Check, LLP reminds investors that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against Canaan Inc. (NASDAQ:CAN) ( Canaan ) on behalf of those who purchased or acquired Canaan American Depositary Receipts ( ADRs )
between February 10, 2021 and April 9, 2021, inclusive (the Class Period ).
Investor Deadline Reminder: Investors who purchased or acquired Canaan ADRs
during the Class Period may,
no later than June 14, 2021
, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll free at (844) 887-9500; via e-mail atinfo@ktmc.com;
Deadline Reminder: Kessler Topaz Meltzer & Check, LLP Reminds Investors of Securities Fraud Class Action Lawsuit Filed Against Canaan Inc (CAN) prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.