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

05-28-2020 11:32 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in Canaan Inc. (NASDAQ: CAN) shares.

An investigation on behalf of current long term investors in Canaan Inc. (NASDAQ: CAN) shares.

An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Canaan Inc..

Investors who are current long term investors in Canaan Inc. (NASDAQ: CAN) shares, 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 for current long term investors in NASDAQ: CAN stocks follows a lawsuit filed against Canaan Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: CAN stocks, concerns whether certain directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of Oregon the plaintiff alleges 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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