Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Canaan Inc. (NASDAQ: CAN) securities.
If you suffered a loss on your Canaan investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 10 2021 - Apr 09 2021
CASE DETAILS:
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.
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