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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of CAN, EBS and PCT

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NEW YORK, NY / ACCESSWIRE / May 14, 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.

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=15869&from=1

Emergent Biosolutions Inc. (NYSE:EBS)

Investors Affected: July 6, 2020 - March 31, 2021

A class action has commenced on behalf of certain shareholders in Emergent Biosolutions Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Emergent's Baltimore plant had a history of manufacturing issues increasing the likelihood for massive contaminations; (ii) these longstanding contamination risks and quality control issues at Emergent's facility led to a string of FDA citations; (iii) the Company previously had to discard the equivalent of millions of doses of COVID-19 vaccines after workers at the Baltimore plant deviated from manufacturing standards; and (iv) as a result of the foregoing, Defendants' public statements about Emergent's ability and capacity to mass manufacture multiple COVID-19 vaccines at its Baltimore manufacturing site were materially false and/or misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/emergent-biosolutions-inc-loss-submission-form/?id=15869&from=1

PureCycle Technologies, Inc. (NASDAQ:PCT)

Investors Affected: November 16, 2020 - May 5, 2021

A class action has commenced on behalf of certain shareholders in PureCycle Technologies, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the technology PureCycle licensed from Procter & Gamble is not proven and presents serious issues even at lab scale; (ii) the challenges posed by the availability and competition for the raw materials necessary to commercialize the licensed technology are significant; (iii) PureCycle's financial projections are baseless; 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/purecycle-technologies-inc-loss-submission-form/?id=15869&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/647467/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-CAN-EBS-and-PCT