CAN LAWSUIT FILED: Jakubowitz Law Pursues Claims on Behalf of Canaan Inc. Shareholders

New York, New York--(Newsfile Corp. - May 3, 2021) - Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders Canaan Inc. (NASDAQ: CAN).

CLICK HERE FOR MORE DETAILS:

https://claimyourloss.com/securities/canaan-inc-loss-submission-form-2/?id=15440&from=5

Affected shareholders purchased shares of CAN between February 10, 2021 and April 9, 2021.

Shareholders interested in representing the class of wronged shareholders have until June 14, 2021 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Canaan Inc. issued 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/82778.