Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Canaan Inc. (“Canaan”) (NASDAQ: CAN).
Canaan investors may receive additional information about the case by clicking the link "Submit Your Information" above.
Canaan is a bitcoin mining hardware manufacturer based in Hangzhou, China.
On April 12, 2021, before the market opened, Canaan issued a press release disclosing its fourth quarter 2020 and fiscal year 2020 financial results for the period ended December 31, 2020. Canaan generated $5.9 million in revenue in the fourth quarter and $68.6 million for full-year 2020. Canaan’s fourth quarter 2020 sales had declined more than 93% year-over-year compared to its fourth-quarter fiscal year 2019.
Following this news, Canaan’s stock price fell approximately 29.6%, down from its April 9, 2021 closing price of $18.67 to an April 12, 2021 close of $13.14.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453 or Adrienne Bell, Esq. (484) 270-1435; toll-free at (844) 887-9500; or via e-mail at email@example.com. You can also click on the link "Submit Your Information" above and fill out the form as promptly as possible.