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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of SOS, CAN and VRUS

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·3 min read
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NEW YORK, NY / ACCESSWIRE / May 12, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

SOS Limited (NYSE:SOS)

Investors Affected : July 22, 2020 - February 25, 2021

A class action has commenced on behalf of certain shareholders in SOS Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) SOS had misrepresented the true nature, location, and/or existence of at least one of the principal executive offices listed in its SEC filings; (ii) HY and FXK were either undisclosed related parties and/or entities fabricated by the Company; (iii) the Company had misrepresented the type and/or existence of the mining rigs that it claimed to have purchased; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/sos-limited-loss-submission-form/?id=15796&from=1

Canaan Inc. (NASDAQ:CAN)

Investors Affected : February 10, 2021 - April 9, 2021

A class action has commenced on behalf of certain shareholders in Canaan Inc. The filed complaint alleges that defendants 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 may find more information at https://securitiesclasslaw.com/securities/canaan-inc-loss-submission-form-2/?id=15796&from=1

Verus International, Inc. (OTC PINK:VRUS)

Investors Affected : June 17, 2019 - November 8, 2020

A class action has commenced on behalf of certain shareholders in Verus International, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Verus lacked the requisite resources, infrastructure and/or expertise to exploit its Big League Foods brand and its MLB license; (ii) the company's issues in production ramp-up were not fully resolved to enable the company to fulfill customer orders; (iii) as a result, the company's prospects and outlook were not as represented; (iv) the company's internal controls for financial reporting and accounting were not sufficient with specific respect to stock-based compensation and classification of equity instruments; (v) as a result, the company's financial results, outlook and prospects were materially worse than represented; and (vi) as a result of the foregoing, the company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/verus-international-inc-loss-submission-form/?id=15796&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/647131/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-SOS-CAN-and-VRUS