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