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SHAREHOLDER ALERT: The Gross Law Firm Notifies Shareholders of Canaan Inc. of a Class Action Lawsuit and a Lead Plaintiff Deadline of June 14, 2021 - CAN

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New York, New York--(Newsfile Corp. - May 13, 2021) - The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders of Canaan Inc.

Shareholders who purchased shares of CAN during the class period listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

CONTACT US HERE:

https://securitiesclasslaw.com/securities/canaan-inc-loss-submission-form-2/?id=15821&from=5

CLASS PERIOD : February 10, 2021 to April 9, 2021

ALLEGATIONS: The complaint alleges that during the class period, Defendants issued 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83970