U.S. markets close in 6 hours 7 minutes
  • S&P 500

    3,787.02
    +18.77 (+0.50%)
     
  • Dow 30

    30,919.67
    +105.41 (+0.34%)
     
  • Nasdaq

    13,097.79
    +99.28 (+0.76%)
     
  • Russell 2000

    2,147.31
    +24.11 (+1.14%)
     
  • Crude Oil

    52.80
    +0.44 (+0.84%)
     
  • Gold

    1,835.90
    +6.00 (+0.33%)
     
  • Silver

    25.19
    +0.33 (+1.32%)
     
  • EUR/USD

    1.2130
    +0.0047 (+0.39%)
     
  • 10-Yr Bond

    1.1110
    +0.0140 (+1.28%)
     
  • GBP/USD

    1.3608
    +0.0022 (+0.16%)
     
  • USD/JPY

    103.9800
    +0.2930 (+0.28%)
     
  • BTC-USD

    37,153.22
    +711.49 (+1.95%)
     
  • CMC Crypto 200

    736.26
    +21.07 (+2.95%)
     
  • FTSE 100

    6,715.50
    -5.15 (-0.08%)
     
  • Nikkei 225

    28,633.46
    +391.25 (+1.39%)
     

The Gross Law Firm Announces Class Actions on Behalf of Shareholders of QIWI, KNDI and SMICY

·3 min read

NEW YORK, NY / ACCESSWIRE / December 16, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Qiwi plc (NASDAQ:QIWI)

Investors Affected: March 28, 2019 - December 9, 2020

A class action has commenced on behalf of certain shareholders in Qiwi plc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Qiwi's internal controls related to reporting and record-keeping were ineffective; (2) consequently, the Central Bank of Russia would impose a monetary fine upon the Company and impose restrictions upon the Company's ability to make payments to foreign merchants and transfer money to pre-paid cards; and (3) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/qiwi-plc-loss-submission-form/?id=11628&from=1

Kandi Technologies Group, Inc. (NASDAQ:KNDI)

Investors Affected: March 15, 2019 - November 27, 2020

A class action has commenced on behalf of certain shareholders in Kandi Technologies Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) 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; (iii) 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 (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/kandi-technologies-group-inc-loss-submission-form/?id=11628&from=1

Semiconductor Manufacturing International Corporation (OTCQX:SMICY)

Investors Affected: April 23, 2020 - September 26, 2020

A class action has commenced on behalf of certain shareholders in Semiconductor Manufacturing International Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) there was an "unacceptable risk" that equipment supplied to SMIC would be used for military purposes; (2) SMIC was foreseeably at risk of facing U.S. restrictions; (3) as a result of restrictions by the U.S. Department of Commerce, certain of SMIC's suppliers would need "difficult-to-obtain" individual export licenses; and (4) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/semiconductor-manufacturing-international-corporation-loss-submission-form/?id=11628&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/621269/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-QIWI-KNDI-and-SMICY