Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Canaan, Inc. (NASDAQ: CAN) on behalf of Canaan stockholders. Our investigation concerns whether Canaan has violated the federal securities laws and/or engaged in other unlawful business practices.
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On Monday, April 12, 2021, before the market opened, Canaan issued a press release disclosing its 4Q20 and FY20 financial results for the period ended December 31, 2020. Canaan generated $5.9 million in revenue in Q4 and $68.6 million for full-year 2020. Canaan’s 4Q20 sales had declined more than 93% year-over-year compared to its fourth-quarter fiscal year 2019.
Following this news, Canaan’s share price declined by 29.62% on April 12, 2021, to close at $13.14 per share.
If you purchased or otherwise acquired Canaan shares and suffered a loss, have information, 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 Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210414005933/en/
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
