NEW YORK, NY / ACCESSWIRE / April 22, 2020 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Align Technology, Inc. (ALGN)
Class Period: April 24, 2019 -July 24, 2019
Deadline: May 1, 2020
For more info: www.bgandg.com/algn
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information. Specifically the complaint alleges that: (1) defendants emphasized the growth and performance of the Company's operations in China, the Company's most valuable market after the United States; (2) these statements included describing the "huge market opportunity" and "tremendous growth . . . in China, in particular," and characterizing the Company's increasing presence in China as "a big hit with our Chinese customers"; (3) these and other statements were materially false and misleading because they exaggerated the Company's performance in China and omitted to disclose material declines in Chinese demand for the Company's products and the deteriorating sentiment of consumers in China towards the Company's products; and (4) consequently, the price of Align common stock was artificially inflated to a high of more than $330 per share during the Class Period.
Canaan Inc. (CAN)
Class Period: Canaan securities pursuant and/or traceable to the Company's initial public offering commenced on or about November 20, 2019.
Deadline: April 28, 2020
For more info: www.bgandg.com/can
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the purported "strategic cooperation" was actually a transaction with a related party; (2) the company's financial health was worse than what was actually reported; (3) the company had recently removed numerous distributors from its website just prior to the IPO, many of which were small or suspicious businesses; and (4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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