Radnor, Pennsylvania, June 10, 2021 / PRNewswire / -Kessler Topaz Meltzer & Check, LLP law firm reminds investors that a class action lawsuit has been filed for securities fraud. United States of America Southern District District Court New York For Canaan Inc. (NASDAQ: CAN) (“Canaan“) On behalf of the person who purchased or acquired Canaan American Depositary Receipts (” ADR “) Between February 10, 2021 And April 9, 2021, Comprehensive (“class period”).
Investor Deadline Reminder: Investors who have purchased or acquired Canaan ADR During class At the latest June 14, 2021Demands that he be nominated as the representative plaintiff of the group. Please contact Kessler Topaz Meltzer & Check, LLP for additional information or how to participate in this proceeding. James Malo, Esq. (484) 270-1453 or Adrian Bell, Esq. (484) 270-1435; Toll free number (844) 887-9500.By email firstname.lastname@example.org; Or click https://www.ktmc.com/canaan-inc-class-action-lawsuit?utm_source=PR&utm_medium=Link&utm_campaign=canaan
Canaan We mainly design, manufacture and sell Bitcoin mining machines. People’s Republic of China..
During the lesson, the defendant said that the supply chain was in turmoil. Canaan Next Generation A12 Series Bitcoin Mining Machine, Canaan Fourth-quarter 2020 sales were down more than 93% year-on-year compared to fourth-quarter 2019 sales and 93% quarter-on-quarter compared to third-quarter 2020 sales. It has decreased more than that.
According to the complaint April 12, 2021, Before the start of trading, Canaan Issued a press release disclosing the financial results for the fourth quarter of 2020 and the fiscal year ending 2020 December 31, 2020This includes a 93% year-on-year decrease in compute power sales and net revenue for the quarter.
The complaint alleges that the defendant concealed the following from investors throughout the class: (1) Canaan Significant supply chain disruption continued in the fourth quarter of 2020. Introduction of (2) Canaan The next generation A12 series Bitcoin mining machines stopped sales of older products in the fourth quarter of 2020. (3) As a result of the above Canaan Sales and sales fell dramatically in the fourth quarter of 2020. (4) As a result of the above Canaan It wasn’t on track to achieve the strong financial outlook that the market had led to believe.
Canaan Investors At the latest June 14, 2021Through, Kessler Topaz Meltzer & Check, LLP, or other attorneys, you may seek to be nominated as the Group’s principal plaintiff representative, or you may choose to do nothing and remain absent group members. The main plaintiff is the representative who acts on behalf of all class members in conducting the proceedings. In order to be nominated as the primary plaintiff, the court must determine that the claims of the members of the group are typical of the claims of other groups and that the members of the group adequately represent the group. Your ability to share recovery is unaffected by the decision to serve as primary plaintiff.
Kessler Topaz Meltzer & Check, LLP has filed class actions in state and federal courts nationwide, including securities fraud, fiduciary duty violations, and other state and federal law violations. Kessler Topaz Meltzer & Check, LLP is the driving force behind corporate governance reform, recovering billions of dollars on behalf of institutional and individual investors. United States of America And all over the world. The company represents investors, consumers and whistleblowers (private citizens who report fraud against the government and share the government’s dollar recovery). The proceedings in this proceeding were not filed by Kessler Topaz Meltzer & Check, LLP. Learn more about Kessler Topaz Meltzer & Check, LLP. www.ktmc.com..
Kessler Topaz Melzer & Check, LLP
James Maro Jr., Esq.
Adrian Bell, Esq.
280 King of Prussia Road
Radnor, Pennsylvania 19087
(844) 887-9500 (toll free)
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Source: Kessler Topaz Meltzer & Check, LLP
CAN Deadline Alert: Kessler Topaz Meltzer & Check, LLP Notify Investors or June 8, 2021 Securities Fraud Class Action Deadline | Around the Web-Pennsylvania
Source link CAN Deadline Alert: Kessler Topaz Meltzer & Check, LLP Notify Investors or June 8, 2021 Securities Fraud Class Action Deadline | Around the Web-Pennsylvania