{"id":478196,"date":"2021-04-19T09:38:07","date_gmt":"2021-04-19T13:38:07","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/"},"modified":"2021-04-19T09:38:07","modified_gmt":"2021-04-19T13:38:07","slug":"hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/","title":{"rendered":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n

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SAN FRANSISCO, April 19, 2021<\/span> \/PRNewswire\/ — Hagens Berman urges Canaan Inc.\u00a0<\/b>(NASDAQ: CAN)\u00a0investors with significant losses to submit your losses now<\/a>.\u00a0A securities class action has been filed and certain investors may have valuable claims.<\/p>\n

\n

\n
\n \"Hagens
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Class Period: <\/b>
\n Feb. 10, 2021<\/span> \u2013 Apr. 9, 2021<\/span><\/p>\n

\n Lead Plaintiff Deadline: <\/b>
\n June 14, 2021<\/span>\n <\/p>\n

\n Visit:<\/b>\u00a0www.hbsslaw.com\/investor-fraud\/CAN<\/a><\/p>\n

\n Contact An Attorney Now:<\/b>\u00a0CAN@hbsslaw.com<\/a>\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895<\/b><\/p>\n

\n Canaan Inc. (NASDAQ: CAN) Securities Fraud Action: <\/b>\n <\/p>\n

The complaint is focused on Canaan’s statements about its bitcoin mining machine business.<\/p>\n

According to the complaint, in past months, Canaan has falsely touted substantial improvement in its revenue visibility, its ability to more precisely forecast revenues, and its receipt of larger orders for its bitcoin mining machines. As recently as Apr. 9, 2021<\/span>, Canaan’s CEO reportedly assured investors that the global shortage of chips used in its equipment did not negatively impact the company.<\/p>\n

But, on Apr. 12, 2021<\/span>, Canaan reported horrible Q4 and FY 2020 financial results.\u00a0 Blaming supply chain disruptions, the company reported Q4 2020 total computing power sold tanked 93% year-over-year and quarter-over-quarter.\u00a0 Canaan also reported FY 2020 total computing power sold tanked 37% year-over-year. During the company’s earnings conference call that morning CEO Nangeng Zhang admitted, contrary to earlier statements, that Canaan had in fact run into a severe shortage of chip supply.<\/p>\n

This news sent the price of Canaan American Depositary Shares crashing nearly 30% lower that day.<\/p>\n

“We’re focused on investors’ losses and proving Canaan intentionally and falsely assured investors of its forecasted revenues and its insulation from the chip shortage,” said Reed Kathrein<\/span>, the Hagens Berman partner leading the investigation. <\/p>\n

If you are a Canaan\u00a0investor and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n

\n Whistleblowers: <\/b>Persons with non-public information regarding Canaan should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. \u00a0Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. \u00a0For more information, call Reed Kathrein<\/span> at 844-916-0895<\/b> or email mailto:<\/a>CAN@hbsslaw.com<\/a>.<\/p>\n

\n
\n About Hagens Berman<\/a>
\n <\/u>
\n
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys.\u00a0 The firm represents investors, whistleblowers, workers and consumers in complex litigation.\u00a0 More about the firm and its successes is located at hbsslaw.com<\/a>. \u00a0For the latest news visit our newsroom<\/a><\/u> or follow us on Twitter at @classactionlaw<\/a><\/u>.<\/p>\n

\n Contact:
<\/u>
\n Reed Kathrein<\/span>, 844-916-0895<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed-301271285.html<\/a><\/p>\n

SOURCE Hagens Berman Sobol Shapiro LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SAN FRANSISCO, April 19, 2021 \/PRNewswire\/ — Hagens Berman urges Canaan Inc.\u00a0(NASDAQ: CAN)\u00a0investors with significant losses to submit your losses now.\u00a0A securities class action has been filed and certain investors may have valuable claims. Class Period: Feb. 10, 2021 \u2013 Apr. 9, 2021 Lead Plaintiff Deadline: June 14, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/CAN Contact An Attorney Now:\u00a0CAN@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 Canaan Inc. (NASDAQ: CAN) Securities Fraud Action: The complaint is focused on Canaan’s statements about its bitcoin mining machine business. According to the complaint, in past months, Canaan has falsely touted substantial improvement in its revenue visibility, its ability to more precisely forecast revenues, and its receipt of larger orders for its bitcoin mining machines. As recently as Apr. 9, 2021, Canaan’s CEO reportedly … <\/p>\n

Continue reading “HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed”<\/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-478196","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN FRANSISCO, April 19, 2021 \/PRNewswire\/ — Hagens Berman urges Canaan Inc.\u00a0(NASDAQ: CAN)\u00a0investors with significant losses to submit your losses now.\u00a0A securities class action has been filed and certain investors may have valuable claims. Class Period: Feb. 10, 2021 \u2013 Apr. 9, 2021 Lead Plaintiff Deadline: June 14, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/CAN Contact An Attorney Now:\u00a0CAN@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 Canaan Inc. (NASDAQ: CAN) Securities Fraud Action: The complaint is focused on Canaan’s statements about its bitcoin mining machine business. According to the complaint, in past months, Canaan has falsely touted substantial improvement in its revenue visibility, its ability to more precisely forecast revenues, and its receipt of larger orders for its bitcoin mining machines. As recently as Apr. 9, 2021, Canaan’s CEO reportedly … Continue reading "HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-19T13:38:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/450112\/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed\",\"datePublished\":\"2021-04-19T13:38:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/\"},\"wordCount\":451,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/mma.prnewswire.com\\\/media\\\/450112\\\/Hagens_Berman_Sobol_Shapiro_LLP_Logo.jpg\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/hagens-berman-national-trial-attorneys-encourages-canaan-can-investors-with-losses-to-contact-its-attorneys-now-securities-fraud-case-filed\\\/\",\"name\":\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canaan (CAN) Investors with Losses to Contact Its Attorneys Now, Securities Fraud Case Filed - 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Class Period: Feb. 10, 2021 \u2013 Apr. 9, 2021 Lead Plaintiff Deadline: June 14, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/CAN Contact An Attorney Now:\u00a0CAN@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0844-916-0895 Canaan Inc. (NASDAQ: CAN) Securities Fraud Action: The complaint is focused on Canaan’s statements about its bitcoin mining machine business. According to the complaint, in past months, Canaan has falsely touted substantial improvement in its revenue visibility, its ability to more precisely forecast revenues, and its receipt of larger orders for its bitcoin mining machines. 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