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CLASS ACTION UPDATE for BLU, ROOT and CAN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

·4 min read

NEW YORK, NY / ACCESSWIRE / May 13, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

BLU Shareholders Click Here: https://www.zlk.com/pslra-1/bellus-health-inc-loss-submission-form?prid=15844&wire=1
ROOT Shareholders Click Here: https://www.zlk.com/pslra-1/root-inc-information-request-form?prid=15844&wire=1
CAN Shareholders Click Here: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=15844&wire=1

* ADDITIONAL INFORMATION BELOW *

BELLUS Health Inc. (NASDAQ:BLU)

BLU Lawsuit on behalf of: investors who purchased September 5, 2019 - July 5, 2020
Lead Plaintiff Deadline: May 17, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/bellus-health-inc-loss-submission-form?prid=15844&wire=1

According to the filed complaint, during the class period, BELLUS Health Inc. made materially false and/or misleading statements and/or failed to disclose that: while BLU-5937's "high selectivity" contributed to the drug causing little to no taste alteration in chronic cough patients, that high selectivity also contributed to the drug potentially being less efficacious and thus likely not be able to meet the primary endpoint of the Company's Phase 2 trial.

Root, Inc (NASDAQ:ROOT)

This lawsuit is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Root Class A common stock pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about October 28, 2020.
Lead Plaintiff Deadline: May 18, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/root-inc-information-request-form?prid=15844&wire=1

According to the filed complaint, (i) Root would foreseeably fail to generate positive cash flow for at least several years following the IPO; (ii) accordingly, the Company would foreseeably require significant cash infusions to meet its cash flow needs; (iii) notwithstanding the Defendants' touting of Root's purportedly unique, data-driven advantages, several of the Company's established industry peers in fact possessed significant competitive advantages over Root with respect to, inter alia, telematics data and data engagement; and (iv) as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state information required to be stated therein.

Canaan Inc. (NASDAQ:CAN)

CAN Lawsuit on behalf of: investors who purchased February 10, 2021 - April 9, 2021
Lead Plaintiff Deadline: June 14, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=15844&wire=1

According to the filed complaint, during the class period, 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.

You have until the lead plaintiff deadlines to 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.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
http://www.zlk.com

SOURCE: Levi & Korsinsky, LLP



View source version on accesswire.com:
https://www.accesswire.com/647314/CLASS-ACTION-UPDATE-for-BLU-ROOT-and-CAN-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders