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Deadline in Lawsuit for Investors in shares of Canaan Inc. (NASDAQ: CAN) on May 4th coming up

04-20-2020 07:44 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A Deadline is coming up on May 4, 2020 in the lawsuit for certain investors in Canaan Inc. (NASDAQ: CAN).

A Deadline is coming up on May 4, 2020 in the lawsuit for certain investors in Canaan Inc. (NASDAQ: CAN).

A deadline is coming up on May 4, 2020 in the lawsuit filed for certain investors of Canaan Inc. (NASDAQ: CAN) over alleged securities laws violations by Canaan Inc.

Investors who purchased shares of Canaan Inc. (NASDAQ: CAN) have certain options and there are strict and short deadlines running. Deadline: May 4, 2020. NASDAQ: CAN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the District of Oregon the plaintiff alleges on behalf of purchasers of Canaan Inc. (NASDAQ: CAN) pursuant and/or traceable to the Company's initial public offering commenced on or about November 20, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the purported "strategic cooperation" was actually a transaction with a related party, that the company's financial health was worse than what was actually reported, that the company had recently removed numerous distributors from its website just prior to the IPO, many of which were small or suspicious businesses, and that several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.

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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