Canaan Technology faces another class action lawsuit

According to Cointelegraph, following the lawsuit filed by Schall, Canaan Technology faces another class action lawsuit. Rosen LLP has filed a lawsuit on behalf of equity investors involved in the Canaan Technology IPO. The law firm claims that investors failed as a result of false and misleading statements due to the failure of Canaan Technology to disclose many issues during the IPO. According to the statement, Jia Nan did not disclose to investors that the so-called "strategic partnership" with Xiong An Technology (HK.1647), a company listed on the Hong Kong Stock Exchange, was actually a transaction with a related party. In addition, it is said that Jianan Technology did not provide investors with correct information about its financial situation, and its financial situation is worse than in the report. The lawsuit documents also point out: Just before the IPO, Canaan Technology removed a large number of distributors from its website, many of which were small or suspicious enterprises; in the past few years, the company's largest Chinese customers were not Bitcoin mining Customers, and therefore may not be repeat customers. According to Odaily Planet News, on February 21, Schall, a Los Angeles shareholder rights litigation company, announced that it is investigating claims on behalf of investors in Canaan Technology (NASDAQ: CAN), which was accused of violating securities laws .