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Investigation announced for Investors in shares of Canaan Inc. (NASDAQ: CAN)

02-24-2020 04:18 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

An investigation for investors in Canaan Inc. (NASDAQ: CAN) shares over potential securities laws violations by Canaan Inc.

An investigation for investors in Canaan Inc. (NASDAQ: CAN) shares over potential securities laws violations by Canaan Inc.

An investigation was announced concerning potential securities laws violations by Canaan Inc. in connection with certain financial statements.

Investors who purchased shares of Canaan Inc. (NASDAQ: CAN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Canaan Inc. (NASDAQ: CAN regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

China based Canaan Inc. engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. Canaan Inc. reported that its annual Total Revenue rose from over $1.3 billion in 2017 to over $2.7 billion in 2018. In November 2019, Canaan Inc. (NASDAQ: CAN) completed its initial public offering ("IPO"), issuing 10 million American Depositary Shares ("ADSs"), at $9.00 per share.

Since the IPO, Canaan's stock has traded as low as $4.31 per share on February 11, 2020.

Those who purchased shares of Canaan Inc. (NASDAQ: CAN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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