NEW YORK, March 5, 2020 / PRNewswire / – Rosen Law Firm, a global investor rights law firm, announces that it has first filed a class action on behalf of the purchasers of Canaan Inc. (NASDAQ: CAN) securities pursuant to and / or traceable to the initial company initial public offering on or about November 20, 2019. The lawsuit seeks to recover damages for Canaan investors under federal securities laws.
To join the Canaan class action, go to http://www.rosenlegal.com/cases-register-1785.html or call Phillip Kim, Esq. toll free at 866-767-3653 or by email [email protected] or [email protected] for more information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY AN ADVISOR UNLESS YOU REMEMBER ONE YOU CAN KEEP AN ADVISOR OF YOUR CHOICE. YOU CAN ALSO REMAIN AN ABSENT MEMBER OF THE CLASS AND DO NOTHING AT THIS POINT. THE CAPACITY OF AN INVESTOR TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT ON ITS FUNCTION AS MAIN APPLICANT.
According to the trial, the defendants throughout the appeal period made false and / or misleading statements and / or did not disclose that: (1) the so-called “strategic cooperation” was in fact a transaction with a party linked; (2) the financial health of the business was worse than reported; (3) the company had recently removed many distributors from its website just before the IPO, many of which were small businesses or suspicious businesses; and (4) several of the Company’s largest Chinese customers in previous years were customers who were not in the Bitcoin mining industry and, therefore, would likely not be regular customers. When the real details entered the market, the lawsuit claimed that the investors had suffered damage.
A class action has already been filed. If you wish to act as principal applicant, you must move the Court at the latest May 4, 2020. A principal plaintiff is a representative party acting on behalf of other class members to direct the litigation. If you wish to join the dispute, go to http://www.rosenlegal.com/cases-register-1785.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. from the Rosen law firm toll free at 866-767-3653 or by email at [email protected] or [email protected].
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The Rosen law firm represents investors from all over the world, concentrating its practice in securities class actions and shareholder derivative litigation. The Rosen law firm was ranked n ° 1 by ISS Securities Class Action Services for the number of collective redress settlements in 2017. The law firm has been ranked in the top 3 every year since 2013. The law firm Rosen has raised hundreds of millions of dollars for investors. Lawyer advertising. Previous results do not guarantee a similar result.
Contact information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Rosen, P.A.
275 Madison Avenue, 40th floor
New York, NY 10016
Tel: (212) 686-1060
Toll free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com
SOURCE Rosen Law Firm, P.A.
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