Law360 (July 9, 2021, 7:44 PM EDT) — A company that makes cryptocurrency mining hardware has escaped, for now, a shareholder suit accusing it and its leadership of hiding related-party transactions from the investing public after a Manhattan federal judge found the investors didn’t show how the company violated securities laws.
In a Thursday opinion and order, U.S. District Judge J. Paul Oetken granted a dismissal bid filed by the mining hardware company Canaan Inc., finding that Canaan investors Hongkou Tang and Boluka Garment Co. Ltd. hadn’t alleged misdeeds that actually broke securities laws in their proposed class action.
Judge Oetken told the investors that if they want to…
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