{"id":405550,"date":"2020-12-24T12:54:08","date_gmt":"2020-12-24T17:54:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=405550"},"modified":"2020-12-24T12:54:08","modified_gmt":"2020-12-24T17:54:08","slug":"investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/","title":{"rendered":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, Dec.  24, 2020  (GLOBE NEWSWIRE) &#8212; The law firm of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=deGtN_q9gDZAEAqABr9RtrPUPQ8YOUfPIXjyWPxl2jDUAiIhioZzt0yx3c-t_yC-KiHwv5xBAD4P2pmNXK6mrA==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Kirby McInerney LLP<\/a> announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=30forX7q32TkxieWe9RFrc0q-OLtXDHSctpH0jbTb_l2uy9Hi25W00tH5ZTldaltQeiN0rLA9R5LI2cp-OFp2f0agYkOquCM1Dntsc1d7BliL73qK0-Db-c1lezEhEEv\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">KNDI<\/a>) securities during the period from March 15, 2019 through 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.<\/p>\n<p align=\"justify\">The complaint 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\u2019s reputation and valuation; and (iv) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n<p align=\"justify\">On 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\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 Following the publication of the Hindenburg report, Kandi\u2019s stock price fell $3.86 per share, or 28.34%, to close at $9.76 per share on November 30, 2020.<\/p>\n<p align=\"justify\">If you acquired Kandi securities, have information, or would like to learn more about these claims, please contact <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=iM7yYdRUuQTvZo5izI2-7Dn2Y6Ik3GfkPTp3w41LbcL-chyMynfoVvWZ48NXtf2tbqwaSvP9Cw3zoi0xYT_d0wKSyvawGPgCmtomTN2Pp74=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Thomas W. Elrod<\/a> of Kirby McInerney at 212-371-6600, by email at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Jo5KX0EkRoL-m-iBtOheUVDpblFzsKZ_TIVmkE4HG-8t1BG3TJ04RDPKfWZCO60rp0vId3pS5wOH077cziq_xGYII1wCZAbB3zOPb1rjW3I=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investigations@kmllp.com<\/a>, or by filling out this <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yEk44aEo6PhEvHfPF1SREfsLeakxoVObJiHYz2xsfbN065vfdxxwQiJAnto1oeD1bEW4fJsZLY8v--7TLQ5-4BITAPimJQG1i0iZVgu06bndi0E_0d-xAqYo3yk_QMYK\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">contact form<\/a>, to discuss your rights or interests with respect to these matters without any cost to you.<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=deGtN_q9gDZAEAqABr9RtnkKKdAq2LDjj2C5_Ry-4HuFRckJGhu9VlJRq7NZeI6-3tbif-4eBgRufMTXr2fshg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Kirby McInerney<\/a> is a New York-based plaintiffs\u2019 law firm concentrating in securities, antitrust, and whistleblower litigation. The firm\u2019s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney\u2019s website: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1idKkzJgmvnBt87BZA_jR1x5bmWw3uH1YQFDowCbDSAxOSR9PDJxsDIsOg-YWsZ-pipeW1e0_h2ZTFvJdeTUjg==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.kmllp.com<\/a>.<\/p>\n<p align=\"justify\">This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>Contacts<\/p>\n<p>Kirby McInerney LLP<br \/>Thomas W. Elrod, Esq., (212) 371-6600<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Jo5KX0EkRoL-m-iBtOheUVDpblFzsKZ_TIVmkE4HG-8P3eIHXUkJohlFGRYPfxc5oHob1R8WE7k0mag9SP52RK7VhvQhW5Gw6yKXIb5Lzek=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">investigations@kmllp.com<\/a><br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1idKkzJgmvnBt87BZA_jR5B3Edknn0tzOYS_YmdsgJPZnN_KREZ-rnJm4nOI5nnri-MeGU8etd0prKFE7BuyFQ==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.kmllp.com<\/a><\/p>\n<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzU2OSMzODk2MTI3IzIwMjA2Njk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/e0b4e323-6e0b-4a11-8633-7f6837ac91e6\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, Dec. 24, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities during the period from March 15, 2019 through 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. The complaint 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 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021&#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-405550","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>INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021 - 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\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, Dec. 24, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities during the period from March 15, 2019 through 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. The complaint 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 &hellip; Continue reading &quot;INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-24T17:54:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzU2OSMzODk2MTI3IzIwMjA2Njk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021\",\"datePublished\":\"2020-12-24T17:54:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/\"},\"wordCount\":531,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODExNzU2OSMzODk2MTI3IzIwMjA2Njk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\\\/\",\"name\":\"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021 - 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/","og_locale":"en_US","og_type":"article","og_title":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021 - Market Newsdesk","og_description":"NEW YORK, Dec. 24, 2020 (GLOBE NEWSWIRE) &#8212; The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of those who acquired Kandi Technologies Group, Inc. (\u201cKandi\u201d or the \u201cCompany\u201d) (NASDAQ: KNDI) securities during the period from March 15, 2019 through 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. The complaint 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 &hellip; Continue reading \"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-24T17:54:08+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzU2OSMzODk2MTI3IzIwMjA2Njk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021","datePublished":"2020-12-24T17:54:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/"},"wordCount":531,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODExNzU2OSMzODk2MTI3IzIwMjA2Njk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/investor-alert-kirby-mcinerney-llp-reminds-investors-that-a-class-action-lawsuit-has-been-filed-against-kandi-technologies-group-inc-and-encourages-investors-to-contact-the-firm-before-february-9-2\/","name":"INVESTOR ALERT: Kirby McInerney LLP Reminds Investors That a Class Action Lawsuit Has Been Filed Against Kandi Technologies Group, Inc. and Encourages Investors to Contact the Firm Before February 9, 2021 - 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