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New York, New York--(Newsfile Corp. - May 13, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canaan Inc. (NASDAQ: CAN) alleging that the Company violated federal securities laws.
Class Period: February 10, 2021 and April 9, 2021
Lead Plaintiff Deadline: June 14, 2021
Learn more about your recoverable losses in CAN:
The filed complaint alleges that Canaan Inc. made materially false and/or misleading statements and/or failed to disclose that: they concealed that due to ongoing supply chain disruptions and the introduction of the Company's next-generation A12 series bitcoin mining machines - which had cannibalized sales of the older product offerings - Canaan's 4Q20 sales had declined more than 93% year-over-year compared to its fourth quarter fiscal year 2019 ("4Q19") sales and more than 93% quarter-over-quarter compared to its third quarter FY20 ("3Q20") sales.
Shareholders have until June 14, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the CAN lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83920