{"id":402915,"date":"2020-12-18T11:03:13","date_gmt":"2020-12-18T16:03:13","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=402915"},"modified":"2020-12-18T11:03:13","modified_gmt":"2020-12-18T16:03:13","slug":"the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-kandi-technologies-group-inc-kndi-investors","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-kandi-technologies-group-inc-kndi-investors\/","title":{"rendered":"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p><b>The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors<\/b><\/p>\n<p>LOS ANGELES&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2F&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=The+Law+Offices+of+Frank+R.+Cruz&amp;index=1&amp;md5=b4013bbdd3defce02ca537f3b2e19a07\">The Law Offices of Frank R. Cruz<\/a> announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FKNDI%3Fp%3DKNDI&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=KNDI&amp;index=2&amp;md5=85ab5645b369e8d4547e62e52ed40904\">KNDI<\/a>) securities between <b>March 15, 2019 and November 27, 2020,<\/b> inclusive (the \u201cClass Period\u201d). Kandi investors have until <b>February 9, 2021 <\/b>to file a lead plaintiff motion.\n<\/p>\n<p>\nIf you are a shareholder who suffered a loss, click <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com%2Fcases%2Fkandi-technologies-group-inc%2F&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=here&amp;index=3&amp;md5=1bbf8b8e65ea43ec702ea130b0a7323f\">here<\/a> to participate.\n<\/p>\n<p>\nOn November 30, 2020, Hindenburg Research 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 inspections of the Company\u2019s factories and customer locations and interviews with former employees, the report alleged, among other things that almost 64% of Kandi\u2019s 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<p>\nOn this news, the Company\u2019s share price fell $3.86 per share or 28%, to close at $9.76 per share on November 30, 2020.\n<\/p>\n<p>\nThroughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. 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\u2019s reputation and valuation; and (iv) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.\n<\/p>\n<p>\nFollow us for updates on Twitter: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FFRC_LAW&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=twitter.com%2FFRC_LAW&amp;index=4&amp;md5=7aee76e1a1c545584401435b6af24a5b\">twitter.com\/FRC_LAW<\/a>.\n<\/p>\n<p>\nIf you purchased Kandi securities during the Class Period, you may move the Court no later than <b>February 9, 2021 <\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Kandi securities, have information or 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to <a rel=\"nofollow\" href=\"mailto:info@frankcruzlaw.com\">info@frankcruzlaw.com<\/a>, or visit our website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=5&amp;md5=38cf71a35ababd6875865454b12f1a72\">www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n<p>\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201218005207r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201218005207\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201218005207\/en\/<\/a><\/span><\/p>\n<p>\nThe Law Offices of Frank R. Cruz, Los Angeles<br \/>\n<br \/>Frank R. Cruz, 310-914-5007<br \/>\n<br \/><a rel=\"nofollow\" href=\"mailto:fcruz@frankcruzlaw.com\">fcruz@frankcruzlaw.com<br \/>\n<\/a><br \/><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.frankcruzlaw.com&amp;esheet=52351029&amp;newsitemid=20201218005207&amp;lan=en-US&amp;anchor=www.frankcruzlaw.com&amp;index=6&amp;md5=a4654aee2082be07dd7bbbb0f0bb9ab8\">www.frankcruzlaw.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> California United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201218005207\/en\/765953\/3\/Close_Up_Logo_HD_Blue.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities between March 15, 2019 and November 27, 2020, inclusive (the \u201cClass Period\u201d). Kandi investors have until February 9, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On November 30, 2020, Hindenburg Research published a report entitled \u201cKandi: How This China-Based NASDAQ-Listed Company Used Fake &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-kandi-technologies-group-inc-kndi-investors\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors&#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-402915","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors - 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\/the-law-offices-of-frank-r-cruz-announces-the-filing-of-a-securities-class-action-on-behalf-of-kandi-technologies-group-inc-kndi-investors\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. (KNDI) Investors LOS ANGELES&#8211;(BUSINESS WIRE)&#8211;The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities between March 15, 2019 and November 27, 2020, inclusive (the \u201cClass Period\u201d). Kandi investors have until February 9, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On November 30, 2020, Hindenburg Research published a report entitled \u201cKandi: How This China-Based NASDAQ-Listed Company Used Fake &hellip; Continue reading &quot;The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. 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Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities between March 15, 2019 and November 27, 2020, inclusive (the \u201cClass Period\u201d). Kandi investors have until February 9, 2021 to file a lead plaintiff motion. If you are a shareholder who suffered a loss, click here to participate. On November 30, 2020, Hindenburg Research published a report entitled \u201cKandi: How This China-Based NASDAQ-Listed Company Used Fake &hellip; Continue reading \"The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Kandi Technologies Group, Inc. 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