Zhang Investor Law Alerts Investors of Deadline in Securities Class Action Lawsuit Against Kandi Technologies Group, Inc. – KNDI
January 20, 2021 at 09:45 AM EST
NEW YORK, Jan. 20, 2021 (GLOBE NEWSWIRE) -- 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 class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=kandi-technologies-group-inc-2&id=2529 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
If you wish to serve as lead plaintiff, you must move the Court before the February 9, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that- 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; 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; 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 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.
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.
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