{"id":399132,"date":"2020-12-14T09:58:18","date_gmt":"2020-12-14T14:58:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399132"},"modified":"2020-12-14T09:58:18","modified_gmt":"2020-12-14T14:58:18","slug":"hagens-berman-national-trial-attorneys-encourages-kandi-technologies-group-nasdaq-kndi-investors-with-losses-to-contact-firm-now-securities-fraud-case-filed","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/hagens-berman-national-trial-attorneys-encourages-kandi-technologies-group-nasdaq-kndi-investors-with-losses-to-contact-firm-now-securities-fraud-case-filed\/","title":{"rendered":"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Kandi Technologies Group (NASDAQ: KNDI) Investors with Losses to Contact Firm Now, Securities Fraud Case Filed"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n SAN FRANCISCO<\/span>, Dec. 14, 2020<\/span> \/PRNewswire\/ — Hagens Berman urges Kandi Technologies Group, Inc. (NASDAQ: KNDI)\u00a0<\/b>investors to submit their losses now<\/a>. A securities fraud class action has been filed and certain investors may have valuable claims.<\/p>\n

\n

\n
\n \"Hagens
\n <\/a>\n <\/p>\n<\/p><\/div>\n

\n Class Period:<\/b>\u00a0Mar. 15, 2019 \u2013 Nov. 27, 2020<\/span>
Lead Plaintiff Deadline:<\/b>\u00a0Feb. 9, 2021
Visit:<\/b>\u00a0www.hbsslaw.com\/investor-fraud\/KNDI<\/a>\u00a0
Contact An Attorney Now:<\/b>\u00a0KNDI@hbsslaw.com<\/a>\u00a0
\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895<\/b><\/p>\n

\n Kandi Technologies Group, Inc. (KNDI) Securities Fraud Class Action<\/b>
\n mailto:<\/a>:<\/p>\n

The complaint centers on whether Kandi manipulated its financial statements, including overstating revenues.<\/p>\n

More specifically, according to the complaint (1) Kandi artificially inflated reported revenues through undisclosed related party transactions, and (2) most of Kandi’s sales during the past year were to undisclosed related parties, indicating the lack of arms-length transactions. <\/p>\n

But investors began to learn the truth, according to the complaint, on Nov. 30, 2020<\/span>, when Hindenburg Research <\/i>published a scathing lengthy forensic report based on on-the-ground inspections at Kandi’s factories and customer locations in China<\/span>, interviews with over a dozen former employees, and review of numerous litigation documents and internal public records.<\/p>\n

According to Hindenburg, <\/i>Kandi engaged in a “brazen scheme” to “falsify revenue using fake sales to undisclosed affiliates.” Hindenburg <\/i>reported (1) it unmasked Kandi’s top customers and found that almost 64% of Kandi’s last twelve months sales have been to undisclosed related parties, and (2) the company’s largest customer, representing about 55% of Kandi’s last twelve months sales, shares a phone number with a Kandi subsidiary and a Kandi executive. Hindenburg <\/i>further concludes Kandi’s financials corroborate its concerns, noting that “[t]he company has consistently booked revenue it cannot collect, a classic hallmark of fake revenue.”<\/p>\n

This news drove the price of Kandi shares crashing lower.<\/p>\n

“We’re focused on, among other things, investor losses and proving Kandi engaged in revenue recognition fraud,” said Reed Kathrein<\/span>, the Hagens Berman partner leading the investigation.<\/p>\n

If you are a Kandi investor, click here to discuss your legal rights with Hagens Berman<\/a>.<\/p>\n

\n Whistleblowers: <\/b>Persons with non-public information regarding Kandi should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein<\/span> at 844-916-0895<\/b> or email mailto:<\/a>KNDI@hbsslaw.com<\/a>.<\/p>\n

\n
\n About Hagens Berman<\/a>
\n <\/u>
\n
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com<\/a>. For the latest news visit our newsroom<\/a><\/u> or follow us on Twitter at @classactionlaw<\/a><\/u>.<\/p>\n

\n Contact:
<\/u>
\n Reed Kathrein<\/span>, 844-916-0895<\/p>\n

<\/div>\n

\n \"Cision\" View original content to download multimedia:http:\/\/www.prnewswire.com\/news-releases\/hagens-berman-national-trial-attorneys-encourages-kandi-technologies-group-nasdaq-kndi-investors-with-losses-to-contact-firm-now-securities-fraud-case-filed-301191760.html<\/a><\/p>\n

SOURCE Hagens Berman Sobol Shapiro LLP<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SAN FRANCISCO, Dec. 14, 2020 \/PRNewswire\/ — Hagens Berman urges Kandi Technologies Group, Inc. (NASDAQ: KNDI)\u00a0investors to submit their losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Mar. 15, 2019 \u2013 Nov. 27, 2020Lead Plaintiff Deadline:\u00a0Feb. 9, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/KNDI\u00a0Contact An Attorney Now:\u00a0KNDI@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Kandi Technologies Group, Inc. (KNDI) Securities Fraud Class Action mailto:: The complaint centers on whether Kandi manipulated its financial statements, including overstating revenues. More specifically, according to the complaint (1) Kandi artificially inflated reported revenues through undisclosed related party transactions, and (2) most of Kandi’s sales during the past year were to undisclosed related parties, indicating the lack of arms-length transactions. But investors began to … <\/p>\n

Continue reading “HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Kandi Technologies Group (NASDAQ: KNDI) Investors with Losses to Contact Firm Now, Securities Fraud Case Filed”<\/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-399132","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nHAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Kandi Technologies Group (NASDAQ: KNDI) Investors with Losses to Contact Firm Now, Securities Fraud Case Filed - 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\/hagens-berman-national-trial-attorneys-encourages-kandi-technologies-group-nasdaq-kndi-investors-with-losses-to-contact-firm-now-securities-fraud-case-filed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Kandi Technologies Group (NASDAQ: KNDI) Investors with Losses to Contact Firm Now, Securities Fraud Case Filed - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SAN FRANCISCO, Dec. 14, 2020 \/PRNewswire\/ — Hagens Berman urges Kandi Technologies Group, Inc. (NASDAQ: KNDI)\u00a0investors to submit their losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Mar. 15, 2019 \u2013 Nov. 27, 2020Lead Plaintiff Deadline:\u00a0Feb. 9, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/KNDI\u00a0Contact An Attorney Now:\u00a0KNDI@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Kandi Technologies Group, Inc. (KNDI) Securities Fraud Class Action mailto:: The complaint centers on whether Kandi manipulated its financial statements, including overstating revenues. 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(NASDAQ: KNDI)\u00a0investors to submit their losses now. A securities fraud class action has been filed and certain investors may have valuable claims. Class Period:\u00a0Mar. 15, 2019 \u2013 Nov. 27, 2020Lead Plaintiff Deadline:\u00a0Feb. 9, 2021 Visit:\u00a0www.hbsslaw.com\/investor-fraud\/KNDI\u00a0Contact An Attorney Now:\u00a0KNDI@hbsslaw.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 844-916-0895 Kandi Technologies Group, Inc. (KNDI) Securities Fraud Class Action mailto:: The complaint centers on whether Kandi manipulated its financial statements, including overstating revenues. More specifically, according to the complaint (1) Kandi artificially inflated reported revenues through undisclosed related party transactions, and (2) most of Kandi’s sales during the past year were to undisclosed related parties, indicating the lack of arms-length transactions. 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