[ad_1]
May 27, 2021, New York (Global News)- Scott + Scott at Law LLP The International Shareholder and Consumer Rights Litigation Corporation (“Scott + Scott”) announced the filing of a class action lawsuit (NASDAQ:were able) And some of its personnel, accusing them of violating federal securities laws. If you purchased a Canaan American Depositary Receipt (“ADR”) between February 10, 2021 and April 9, 2021 (“Class Period”) and suffered a loss, it is recommended that you call (844) and Contact Joseph Pettigrew for more information. 818-6982 or jpettigrew@scott-scott.com.
Canaan mainly designs, manufactures and sells Bitcoin mining machines in the People’s Republic of China.
The lawsuit alleges that, among other things, the company made material false and/or misleading statements because the company had promoted its sales prospects throughout the course, but then invested in investment before the market opened on Monday, April 12, 2021. According to the author, its sales in the fourth quarter of 2020 (“the fourth quarter of 20 years”) fell by more than 93% year-on-year, and it was down by more than 93% from the third quarter of 2020 (“the third quarter of 20 years”). As a result, Canaan’s 20Q4 total net income fell from 463.2 million yuan in the fourth quarter of 2019 and 163.0 million yuan in the third quarter of 2020 to 38.2 million yuan ($5.9 million).
On this news, the market price of Canaan ADR dropped from the closing price of US$18.67 on April 9, 2021 to the closing price of ADR per share on April 12, 2021, down by US$5.53, or 29.6%, to close at 13.14 per ADR. US dollars.
what can you do
If you bought Canaan ADR between February 10, 2021 and April 9, 2021, Or if you have any questions about this notice or your legal rights, it is recommended that you call (844) 818-6982 to contact attorney Joseph Pettigrew, or jpettigrew@scott-scott.com. The deadline for the lead plaintiff is June 14, 2021.
Scott + Scott attorneys on Law LLP
Scott + Scott has extensive experience in prosecuting major securities, antitrust and employee retirement planning actions across the United States. The company represents pension funds, foundations, individuals and other entities worldwide, and has offices in New York, London, Amsterdam, Connecticut, California, Virginia and Ohio.
Lawyer advertisement
contact:
Joseph Pettigrew
Scott + Scott at Law LLP
17th Floor, 230 Park Avenue, New York City, New York, New York 10169-1820
(844) 818-6982
jpettigrew@scott-scott.com
[ad_2]
Source link
