|Company Name||Kandi Technologies Group, Inc|
|Class Period||March 15, 2019 to November 27, 2020|
|Motion Deadline||February 9, 2021|
The Thornton Law Firm announces that a class action lawsuit has been filed on behalf of investors of Kandi Technologies Group, Inc. (NASDAQ: KNDI). Investors who purchased KNDI stock or other securities between March 15, 2019 and November 27, 2020 may contact the Thornton Law Firm to obtain a copy of the complaint or to discuss the lead plaintiff process. Interested investors are encouraged to submit their information above. Investors may email firstname.lastname@example.org or call 617-531-3917. Interested Kandi investors have until February 9, 2021 to apply to be a lead plaintiff.
The case alleges that Kandi and its senior executives made misleading statements to investors and 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’s 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; and (iii) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi’s reported revenues and, in turn, have a foreseeable negative impact on the Kandi’s reputation and valuation. It is alleged that when the public was made aware of the truth, Kandi’s stock price fell, thereby damaging investors.
The lawsuit alleges violations of the federal securities laws. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing the class action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor’s share in any potential recovery. Investors do not need to be a lead plaintiff to be a member of the class. If investors choose to take no action, they can remain an absent class member. Interested Kandi investors have until February 9, 2021 to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.
Thornton Law Firm’s securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of investors. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.