{"id":399508,"date":"2020-12-14T21:03:29","date_gmt":"2020-12-15T02:03:29","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=399508"},"modified":"2020-12-14T21:03:29","modified_gmt":"2020-12-15T02:03:29","slug":"kandi-technologies-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/kandi-technologies-alert-bragar-eagel-squire-p-c-announces-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"KANDI TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm"},"content":{"rendered":"

<\/p>\n

KANDI TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nBragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Kandi Technologies Group, Inc. (NASDAQ: KNDI) securities between March 15, 2019 and November 27, 2020 (the \u201cClass Period\u201d). Investors have until February 9, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.\n<\/p>\n

\nClick here<\/a> to participate in the action.\n<\/p>\n

\nOn November 30, 2020, Hindenburg Research (\u201cHindenburg\u201d) published a report entitled \u201cKandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors\u201d. Citing \u201cextensive on-the-ground inspection at Kandi\u2019s factories and customer locations in China, interviews with over a dozen former employees and business partners, and review of numerous litigation documents and international public records\u201d, the Hindenburg report asserted that almost 64% of Kandi’s sales over the year have been to undisclosed related parties. The report also alleged that \u201c[Kandi] has consistently booked revenue it cannot collect, a classic hallmark of fake revenue[.]\u201d\n<\/p>\n

\nFollowing the publication of the Hindenburg report, Kandi’s stock price fell $3.86 per share, or 28.34%, to close at $9.76 per share on November 30, 2020.\n<\/p>\n

\nThe complaint, filed on December 11, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company\u2019s business, operational, and compliance policies. Specifically, defendants made 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\u2019s 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\u2019s 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.\n<\/p>\n

\nIf you purchased Kandi securities during the Class Period and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com<\/a>, telephone at (212) 355-4648, or by filling out this contact form.<\/a> There is no cost or obligation to you.\n<\/p>\n

About Bragar Eagel & Squire, P.C.:<\/b><\/p>\n

\nBragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201214005801\/en\/<\/a><\/span><\/p>\n

\nBragar Eagel & Squire, P.C.
\n
Brandon Walker, Esq.
\n
Melissa Fortunato, Esq.
\n
Marion Passmore, Esq.
\n
(212) 355-4648
\n
investigations@bespc.com
\n<\/a>
www.bespc.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America New York<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

KANDI TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm NEW YORK–(BUSINESS WIRE)– Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of investors that purchased Kandi Technologies Group, Inc. (NASDAQ: KNDI) securities between March 15, 2019 and November 27, 2020 (the \u201cClass Period\u201d). Investors have until February 9, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. On November 30, … <\/p>\n

Continue reading “KANDI TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm”<\/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-399508","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nKANDI TECHNOLOGIES ALERT: Bragar Eagel & Squire, P.C. 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