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CLASS ACTION UPDATE for EH, VRM and CAN: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Monday, 19 April 2021 06:30 AM

Levi & Korsinsky, LLP

Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / April 19, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

EH Shareholders Click Here: https://www.zlk.com/pslra-1/ehang-holdings-limited-loss-submission-form?prid=14815&wire=1
VRM Shareholders Click Here: https://www.zlk.com/pslra-1/vroom-inc-loss-submission-form?prid=14815&wire=1
CAN Shareholders Click Here: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=14815&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Monday, April 19, 2021, Press release picture

Ehang Holdings Limited (NASDAQ:EH)

EH Lawsuit on behalf of: investors who purchased December 12, 2019 - February 16, 2021
Lead Plaintiff Deadline : April 19, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ehang-holdings-limited-loss-submission-form?prid=14815&wire=1

According to the filed complaint, during the class period, Ehang Holdings Limited made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's purported regulatory approvals in Europe and North American for its EH216 were for use as a drone, and not for carrying passengers; (ii) its relationship with its purported primary customer is a sham; (iii) EHang has only collected on a fraction of its reported sales since its ADS began trading on NASDAQ in December 2019; (iv) the Company's manufacturing facilities were practically empty and lacked evidence of advanced manufacturing equipment or employees; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.

Vroom, Inc. (NASDAQ:VRM)

VRM Lawsuit on behalf of: investors who purchased June 9, 2020 - March 3, 2021
Lead Plaintiff Deadline : May 21, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/vroom-inc-loss-submission-form?prid=14815&wire=1

According to the filed complaint, during the class period, Vroom, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Canaan Inc. (NASDAQ:CAN)

CAN Lawsuit on behalf of: investors who purchased February 10, 2021 - April 9, 2021
Lead Plaintiff Deadline : June 14, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/canaan-inc-loss-submission-form?prid=14815&wire=1

According to the filed complaint, during the class period, Canaan Inc. made materially false and/or misleading statements and/or failed to disclose that: they concealed that due to ongoing supply chain disruptions and the introduction of the Company's next-generation A12 series bitcoin mining machines - which had cannibalized sales of the older product offerings - Canaan's 4Q20 sales had declined more than 93% year-over-year compared to its fourth quarter fiscal year 2019 ("4Q19") sales and more than 93% quarter-over-quarter compared to its third quarter FY20 ("3Q20") sales.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

Topic:
Lawsuits
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