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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Canaan, Inc. Investors: Company Investigated by the Portnoy Law Firm

April 15, 2021 GMT

Investors can contact the law firm at no cost to learn more about recovering their losses

​LOS ANGELES, April 15, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Canaan, Inc. (“Canaan” or the “Company”) (NASDAQ: CAN) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

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It is alleged in this complaint that Canaan issued misleading and/or false statements and/or failed to disclose information pertinent to investors. Before the market opened on April 12, 2021, Canaan announced fourth quarter 2020 and financial results for fiscal year 2021. Canaan disclosed $5.9 million in revenue for its fourth quarter and $68.6 million for the full year of 2020. Canaan’s fourth quarter revenue represents a year-over-year decline of more than 93%. Shares of Canaan dropped sharply, harming investors, based on this news.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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