(English) Kandi Technologies Group, Inc.
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against Kandi Technologies Group, Inc. – KNDI
New York, N.Y., January 4, 2021. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Kandi Technologies Group, Inc. (NASDAQ: KNDI) between March 15, 2019 and November 27, 2020, inclusive (the “Class Period”).
To join the KNDI class action, go to http://zhanginvestorlaw.com/cases/kandi-technologies-group-inc-2/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.
According to the lawsuit, throughout the Class Period (1) Kandi artificially inflated its reported revenues through undisclosed related party transactions, or otherwise had relationships with key customers that indicated those customers did not have an arms-length relationship with Kandi; (2) the majority of Kandi’s sales in the past year had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt on the arms-length nature of their relationship; (3) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi’s reported revenues and, in turn, have a foreseeable negative impact on the Company’s reputation and valuation; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 9, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/kandi-technologies-group-inc-2/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.