Bitcoin mining goliath and contender to Bitmain Canaan Inc. (otherwise known as Canaan Creative) is being sued by financial specialists who guarantee that the organization has damaged a few industry laws.
Canaan Is Taking a Hard Hit
The suit was recorded in Oregon last Wednesday by financial specialist Phillippe Lemieux, who accepts the endeavor misled investors following its ongoing first sale of stock (IPO). Lemieux claims that the organization introduced bogus data about its monetary prosperity and about its status with the Securities and Exchange Commission (SEC).
Among the central matters of the claim is the supposed association among Canaan and Grand Shores Weicheng Technology Co., which is situated in Hangzhou and is a potential "related gathering" to Canaan. Lawyers speaking to Lemieux and different financial specialists guarantee that such an organization doesn't exist. What's more, they state Canaan expelled a few wholesalers from its site preceding its IPO occurring and neglected to reveal the way that few of its Chinese customers held no situations in the crypto mining space.
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