CAN LAWSUIT: The Law Offices of Vincent Wong Notify Investors of a Class Action Lawsuit Involving Canaan Inc.

New York, New York--(Newsfile Corp. - May 10, 2021) - The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased Canaan Inc. ("Canaan") (NASDAQ: CAN) between February 10, 2021 and April 9, 2021.

If you suffered a loss, contact us at the link below. There is no cost or obligation to you.
http://www.wongesq.com/pslra-1/canaan-inc-loss-submission-form-2?prid=15662&wire=5

Allegations against CAN include that the Company 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.

If you suffered a loss in Canaan you have until June 14, 2021 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.

Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83537