Canaan Inc.

CAN
Denny v. Canaan, Inc., et al., No. 21-cv-3299 (S.D.N.Y.)

Canaan is a Chinese bitcoin mining hardware manufacturer. After telling investors in February that it had “received a large number of pre-sale orders which [were] scheduled for delivery starting in the fourth quarter of 2020,” its value jumped 90% in one week. But two months later, Canaan announced that fourth quarter 2020 sales declined over 93% year-over-year, contradicting the company’s earlier statements. On this news, Canaan’s shares plummeted approximately 30%, down from $18.67 to $13.14 in just one trading day.

Lead Plaintiff deadline
June 14, 2021
class period
February 10, 2021
to
April 9, 2021
Case Documents
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