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New York, New York--(Newsfile Corp. - February 4, 2021) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Kandi Technologies Group, Inc. (NASDAQ: KNDI) alleging that the Company violated federal securities laws.
Class Period: March 15, 2019 and November 27, 2020
Lead Plaintiff Deadline: February 9, 2021
Learn more about your recoverable losses in KNDI:
The filed complaint alleges that Kandi Technologies Group, Inc. 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 have until February 9, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the KNDI lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73681