{"id":398858,"date":"2020-12-14T08:03:25","date_gmt":"2020-12-14T13:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=398858"},"modified":"2020-12-14T08:03:25","modified_gmt":"2020-12-14T13:03:25","slug":"shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/","title":{"rendered":"SHAREHOLDER ALERT: Kandi Technologies Group, Inc. Sued for Violation of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BOSTON, Dec.  14, 2020  (GLOBE NEWSWIRE) &#8212; On November 30, 2020, analyst Hindenburg Research published a report concerning Kandi Technologies Group, Inc. (NASDAQ: KNDI), calling Kandi \u201ca brazen scheme\u201d that \u201cfalsif[ied] revenue using fake sales to undisclosed affiliates.\u201d Hindenburg said that its report was based on \u201cinterviews with over a dozen former employees and business partners\u201d of Kandi, as well as an \u201cextensive on-the-ground inspection at Kandi\u2019s factories and customer locations in China.\u201d Hindenburg asserted that approximately 64% of Kandi\u2019s sales in the last twelve months were to undisclosed related parties, and that Kandi \u201chas consistently booked revenue it cannot collect, a classic hallmark of fake revenue.\u201d The market was stunned by this report, and as a result, shares of KNDI fell over 28% in one trading day.<\/p>\n<p>A lawsuit has been filed against Kandi and certain of its executives in the U.S. District Court for the Eastern District of New York. The lawsuit is captioned <em>Vald\u00e9s v. Kandi Technologies Group, Inc., et al.<\/em>, No. 1:20-cv-06042 (E.D.N.Y.). The suit alleges, among other things, that Kandi artificially inflated its reported revenues through undisclosed related party transactions and that the majority of Kandi\u2019s sales in the last year were to undisclosed related parties or parties with such a close relationship to Kandi that it cast doubt on the arms-length nature of their relationship.<\/p>\n<p>If you purchased or acquired shares of Kandi securities between March 15, 2019 and November 27, 2020 and lost money, you are strongly encouraged to contact the nationally-recognized securities law firm Block &amp; Leviton LLP (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xc_-nZQFjpXZ9ouO__AXtdsTcC_xQHo9ZGzNN5md2956K5cjW9MzvxMsuxBXNv2R8-pBLlCk9TEtNS44h4Hmirrzv6ZPumykxfx9aNsIRIA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.blockleviton.com<\/a>) at (617) 398-5600, via email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yEAcYaTQxN0xlug38MqOH5Tnj3g4b1uKLyctcuRvDCG6eayPpAk_ZYXcG9aqRJyqIpCJlmcHAEDH-hJSzt4dygyF0jCx7E7UT-ygwvcK604=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">cases@blockleviton.com<\/a>, or at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=YR79bnp3m4ZSth-rqHYJxBVfynXw_0d4lEhA7tWmHZDCQHqkKnH7xMas15XO9fETKTxvkc-GKT5Hpii4xPamO6LyKH4ZolNsVP7yL7AlIhfilZjgRkzdOl0lxxiTYj2HqbhLW0fQ5J_yGkgboaKdBg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/www.blockleviton.com\/cases\/kndi<\/a>. <strong><em>The deadline to move the Court to be appointed lead plaintiff is February 9, 2021.<\/em><\/strong><\/p>\n<p align=\"justify\">Block &amp; Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country\u2019s financial markets. The firm represents many of the nation\u2019s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm\u2019s lawyers have recovered billions of dollars for its clients.<\/p>\n<p>This notice may constitute attorney advertising.<\/p>\n<p>CONTACT:<br \/>BLOCK &amp; LEVITON LLP<br \/>260 Franklin St., Suite 1860<br \/>Boston, MA 02110<br \/>Phone: (617) 398-5600<br \/>Email: cases@blockleviton.com<br \/>SOURCE: Block &amp; Leviton LLP<br \/>www.blockleviton.com<\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTA1MCMzODY4MTQ2IzIwMTgxMTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/88c83d9e-710f-4c2d-9db7-b2dd8152a717\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BOSTON, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; On November 30, 2020, analyst Hindenburg Research published a report concerning Kandi Technologies Group, Inc. (NASDAQ: KNDI), calling Kandi \u201ca brazen scheme\u201d that \u201cfalsif[ied] revenue using fake sales to undisclosed affiliates.\u201d Hindenburg said that its report was based on \u201cinterviews with over a dozen former employees and business partners\u201d of Kandi, as well as an \u201cextensive on-the-ground inspection at Kandi\u2019s factories and customer locations in China.\u201d Hindenburg asserted that approximately 64% of Kandi\u2019s sales in the last twelve months were to undisclosed related parties, and that Kandi \u201chas consistently booked revenue it cannot collect, a classic hallmark of fake revenue.\u201d The market was stunned by this report, and as a result, shares of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;SHAREHOLDER ALERT: Kandi Technologies Group, Inc. Sued for Violation of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-398858","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SHAREHOLDER ALERT: Kandi Technologies Group, Inc. Sued for Violation of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SHAREHOLDER ALERT: Kandi Technologies Group, Inc. Sued for Violation of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BOSTON, Dec. 14, 2020 (GLOBE NEWSWIRE) &#8212; On November 30, 2020, analyst Hindenburg Research published a report concerning Kandi Technologies Group, Inc. (NASDAQ: KNDI), calling Kandi \u201ca brazen scheme\u201d that \u201cfalsif[ied] revenue using fake sales to undisclosed affiliates.\u201d Hindenburg said that its report was based on \u201cinterviews with over a dozen former employees and business partners\u201d of Kandi, as well as an \u201cextensive on-the-ground inspection at Kandi\u2019s factories and customer locations in China.\u201d Hindenburg asserted that approximately 64% of Kandi\u2019s sales in the last twelve months were to undisclosed related parties, and that Kandi \u201chas consistently booked revenue it cannot collect, a classic hallmark of fake revenue.\u201d The market was stunned by this report, and as a result, shares of &hellip; Continue reading &quot;SHAREHOLDER ALERT: Kandi Technologies Group, Inc. 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(NASDAQ: KNDI), calling Kandi \u201ca brazen scheme\u201d that \u201cfalsif[ied] revenue using fake sales to undisclosed affiliates.\u201d Hindenburg said that its report was based on \u201cinterviews with over a dozen former employees and business partners\u201d of Kandi, as well as an \u201cextensive on-the-ground inspection at Kandi\u2019s factories and customer locations in China.\u201d Hindenburg asserted that approximately 64% of Kandi\u2019s sales in the last twelve months were to undisclosed related parties, and that Kandi \u201chas consistently booked revenue it cannot collect, a classic hallmark of fake revenue.\u201d The market was stunned by this report, and as a result, shares of &hellip; Continue reading \"SHAREHOLDER ALERT: Kandi Technologies Group, Inc. Sued for Violation of the Federal Securities Laws; Investors Should Contact Block &amp; Leviton LLP\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-14T13:03:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEwMTA1MCMzODY4MTQ2IzIwMTgxMTk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shareholder-alert-kandi-technologies-group-inc-sued-for-violation-of-the-federal-securities-laws-investors-should-contact-block-leviton-llp\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"SHAREHOLDER ALERT: Kandi Technologies Group, Inc. 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