{"id":477596,"date":"2021-04-16T16:24:02","date_gmt":"2021-04-16T20:24:02","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-canaan-inc-can-on-behalf-of-investors\/"},"modified":"2021-04-16T16:24:02","modified_gmt":"2021-04-16T20:24:02","slug":"the-law-offices-of-frank-r-cruz-announces-investigation-of-canaan-inc-can-on-behalf-of-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-investigation-of-canaan-inc-can-on-behalf-of-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. (CAN) on Behalf of Investors"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. (CAN) on Behalf of Investors<\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> announces an investigation of Canaan Inc. (\u201cCanaan\u201d or the \u201cCompany\u201d) (NASDAQ: CAN<\/a>) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws.\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn April 12, 2021, before the markets opened, Canaan announced its fourth quarter and fiscal year 2020 financial results in a press release. Therein, the Company reported a 93% year-over-year decrease in computing power sold and net revenues for the quarter, citing \u201ca severe supply shortage\u201d of \u201cmining machine\u201d chips during the quarter. The Company also revealed that older machines were sold for lower prices than the newer machines for which Canaan received pre-orders, despite prior statements that the price of bitcoin mining machines typically increased with the price of bitcoin, which had risen dramatically during the fourth quarter.\n<\/p>\n

\nOn this news, Canaan\u2019s American Depositary Receipt (\u201cADR\u201d) price fell $5.53, or 30%, to close at $13.14 per ADR on April 12, 2021, thereby injuring investors.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased Canaan securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210416005547\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. (CAN) on Behalf of Investors LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of Canaan Inc. (\u201cCanaan\u201d or the \u201cCompany\u201d) (NASDAQ: CAN) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On April 12, 2021, before the markets opened, Canaan announced its fourth quarter and fiscal year 2020 financial results in a press release. Therein, the Company reported a 93% year-over-year decrease in computing power sold and net revenues for the quarter, citing \u201ca severe supply shortage\u201d of \u201cmining machine\u201d chips during the quarter. The Company also … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. (CAN) on Behalf of Investors”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-477596","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. 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(\u201cCanaan\u201d or the \u201cCompany\u201d) (NASDAQ: CAN) on behalf of investors concerning the Company\u2019s possible violations of federal securities laws. If you are a shareholder who suffered a loss, click here to participate. On April 12, 2021, before the markets opened, Canaan announced its fourth quarter and fiscal year 2020 financial results in a press release. Therein, the Company reported a 93% year-over-year decrease in computing power sold and net revenues for the quarter, citing \u201ca severe supply shortage\u201d of \u201cmining machine\u201d chips during the quarter. The Company also … Continue reading "The Law Offices of Frank R. Cruz Announces Investigation of Canaan Inc. 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