Canaan Inc. is free for now of allegations it made misleading statements ahead of its 2019 initial public offering, but investors may seek permission to fix up their complaint and try again, a federal judge in New York said.
Investors say the company, which makes servers and other computer hardware for mining bitcoins, misled them about three related-party transactions before the IPO. The would-be class complaint didn’t properly allege that some of the challenged omissions actually caused the investors’ losses, and others weren’t material, the U.S. District Court for the Southern District of New York said.
The investors alleged ...
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