Investors with losses are encouraged to contact the firm before June 14, 2021; click here to submit trade information
LOS ANGELES, June 08, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Canaan, Inc. (NASDAQ: CAN) investors that acquired shares between February 10, 2021 and April 9, 2021. Investors have until June 14, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Canaan issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Before the market opened on April 12, 2021, Canaan announced fourth quarter 2020 and financial results for fiscal year 2021. Canaan disclosed $5.9 million in revenue for its fourth quarter and $68.6 million for the full year of 2020. Canaan’s fourth quarter revenue represents a year-over-year decline of more than 93%. Shares of Canaan dropped sharply, harming investors, based on this news.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 14, 2021.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar