The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canaan Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

Los Angeles, Calif .– (Newsfile Corp. – June 5, 2021) – The Schall Law Firm, a national shareholder rights law firm, has announced that it has filed a class action lawsuit against Canaan Inc. (“Canaan” or “the Company”). ) (NASDAQ: CAN) for violating federal securities laws.

Investors who acquired and / or attributed to the Company’s securities in accordance with the Company’s initial public offering (“IPO”) on or about November 20, 2019 are advised to contact the Company prior to May 4, 2020 to put.

If you are a shareholder who has suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall law firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335 to discuss your rights at no charge. You can also contact us on the firm’s website at www.schallfirm.com or by email at brian@schallfirm.com.

In this case, the class has not yet been certified and you will not be represented by a lawyer until certified. If you do nothing, you can remain an absent class member.

According to the lawsuit, the company provided false and misleading information to the market. Canaan claimed to be engaged in a “strategic collaboration” that was actually just a related party transaction. The company was in a weaker financial position than stated. Immediately prior to going public, the company removed many distributors, many of whom were of dubious quality. Many of the company’s Chinese customers weren’t in the bitcoin industry, so they probably wouldn’t buy its products again. Because of these facts, the company’s public statements were false and materially misleading throughout the course period. When the market learned the truth about Canaan, investors suffered damage.

Join the case to make up for your losses.

The law firm Schall represents investors worldwide and specializes in securities class actions and shareholder disputes.

The story goes on

This press release may be viewed as a solicitation in some jurisdictions under applicable law and ethical rules.

CONTACT:

The Schall law firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

SOURCE:

The Schall law firm

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86522

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