PR Newswire | Apr 13, 2021 09:14AM EDT

Fistel Regarding Investigation

04/13 08:13 CDT

(CAN) Alert: Did You Lose Money on Your Canaan Investment? Contact Johnson Fistel Regarding Investigation SAN DIEGO, April 13, 2021

SAN DIEGO, April 13, 2021 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP is investigating potential violations of the federal securities laws by Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company").

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 shares plummeted, closing down 29.62% on April 12, 2021.

Johnson Fistel's investigation seeks to determine whether the Company issued false or misleading statements or failed to disclose information relevant to investors.

If you have information that could assist in this investigation, or if you are a Canaan shareholder and are interested in learning more about the investigation, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.

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AboutJohnson Fistel, LLP:Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:Johnson Fistel, LLPJim Baker, 619-814-4471jimb@johnsonfistel.com

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SOURCE Johnson Fistel, LLP