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Nobody cares, but Class Action Lawsuits underway:

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okavango Member Level  Monday, 03/30/20 07:58:13 PM
Re: None
Post # of 45 
Nobody cares, but Class Action Lawsuits underway:

This was on many Crypto & Blockchain 'watch lists', but Price/Volume action never triggered any actual buying, which is one reason this board is dead. Imagine if they IPO's on the OTC for .001 - then there would be 10,000 posts by now (and a 100 bag-holderz - we all know who).

Anyway, the Ambulance Chasers are all over it

"$CAN Lawsuit on behalf of investors who purchased publicly traded securities of Canaan...in connection with the Company's November 20, 2019 initial public offering."

According to the filed complaint:

(1) the purported "strategic cooperation" was actually a transaction with a related party;

(2) the company's financial health was worse than what was actually reported;

(3) the company had recently removed numerous distributors from its website just prior to the initial public offering, many of which were small or suspicious businesses; and

(4) several of the Company's largest Chinese clients in prior years were clients who were not in the Bitcoin mining industry and, thus, would likely not be repeat customers.

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