LOS ANGELES, CA / ACCESSWIRE / April 21, 2020 / 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 and its bitcoin mining products are the subjects of a research report published on February 20, 2020, by an investment analyst writing under the name "Marcus Aurelius." The report, titled "Canaan Fodder," alleged that the Company engaged in schemes such as related-party transactions. For example, the report alleges that Grandshores, a Hong Kong company with a market cap of just $50 million, announced it would purchase $150 million worth of Canaan's products. According to the report, Grandshores' Chairman owns a considerable amount of Canaan's stock, a relationship not disclosed to the SEC.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
SOURCE: The Schall Law Firm