LOS ANGELES, April 26, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces a class action lawsuit
against Kandi Technologies Group, Inc. ("Kandi" or the "Company") (Nasdaq: KNDI) concerning possible violations of federal
securities laws between March 16, 2015 and March 13, 2017 inclusive
(the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm before
the May 15, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit,
click here .
You can also call Brian Lundin, Esq., of Lundin Law PC, at
888-713-1033, or e-mail him at brian@lundinlawpc.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an
attorney. You may also do nothing and be an absent class member.
The Complaint alleges that during the Class Period, Kandi made false and/or misleading statements and/or failed to disclose
that: certain areas in the Company'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; Kandi lacked effective internal controls over financial reporting; and as a result of the above,
the Company's public statements were materially false and misleading at all relevant times. On November 14, 2016, Kandi announced the abrupt resignation of its CFO Cheng Wang. On March 13, 2017, Kandi filed a Current Report on Form 8-K with the SEC, announcing that the Company would
restate 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. When this news was announced
to the public, Kandi's stock price fell significantly, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities
litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical
rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
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SOURCE Lundin Law PC