Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
4 May 2020
Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of purchasers of the American Depositary Receipts (“ADR’s”) of Canaan Inc. (NASDAQ: CAN) pursuant and/or traceable to the Company’s initial public offering (“IPO”) commenced on or about November 20, 2019.
1 April 2020
In November 2019, Canaan completed its initial public offering (“IPO”), selling 10 million American Depositary Shares (“ADSs”) priced at $9.00 per share. Then, on February 20, 2020, an investment analyst publishing under the pseudonym Marcus Aurelius published a short report entitled “Canaan Fodder.” The report alleged, among other things, that Canaan was engaged in several undisclosed related-party transactions that lacked economic substance, including the sale of $150 million worth of equipment to a small Hong Kong company with an undisclosed relationship with a significant Canaan shareholder.
17 March 2020
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canaan Inc. (“Canaan” or “the Company”) (NASDAQ: CAN) for violations of the federal securities laws.
5 March 2020
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Canaan Inc. (“Canaan” or the “Company”) securities pursuant and/or traceable to the Company’s registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with its November 20, 2019 initial public offering (“IPO”). Canaan investors have until May 4, 2020 to file a lead plaintiff motion.
Business Wire, 5 March 2020
Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Oregon on behalf of investors that purchased Canaan, Inc. (NASDAQ: CAN) securities pursuant or traceable to the Company’s initial public offering, which commenced on or about November 20, 2019 (the “IPO” or “Offering”). Investors have until May 4, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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