LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Canaan Inc. (“Canaan” or “the Company”) (NASDAQ: CAN) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Canaan announced fourth quarter 2020 and fiscal year 2020 financial results before the market opened on April 12, 2021. The Company disclosed $5.9 million in revenue in the fourth quarter and $68.6 million for full-year 2020. The Company’s fourth quarter revenue represents a year-over-year decline of more than 93%. Based on this news, shares of Canaan dropped sharply, harming investors.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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