NEW YORK, March 15, 2017 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Kandi Technologies Group,
Inc. ("Kandi Technologies") (NASDAQ:KNDI) between
March 16, 2015 and March 13, 2017. You are
hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of
California. To get more information go to:
http://www.zlk.com/pslra-sa/kandi-technologies
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or
failed to disclose that: (1) certain areas in Kandi’s previously issued financial statements for the years ended December 31, 2015
and 2014, and the first three quarters for the year ended December 31, 2016 required adjustment; (2) in turn, Kandi lacked
effective controls over financial reporting; and (3) as a result, defendants’ statements about Kandi’s business, operations, and
prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times
On March 14, 2017, Kandi revealed that its previously issued financial statements for the years ended December 31, 2015 and
2014, and the first three quarters for the year ended December 31, 2016 will need to be restated. On this news shares of Kandi fell
approximately 7% to close at $4.05 per share on March 14, 2017, further damaging investors.
If you suffered a loss in Kandi Technologies you have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The
firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered
hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
