NEW YORK, NY / ACCESSWIRE / June 11, 2020 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Kandi Technologies Group, Inc. ("Kandi" or the "Company") (NASDAQ:KNDI). Investors who purchased Kandi securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/kndi.
The investigation concerns whether Kandi and certain of its officers and/or directors have violated federal securities laws.
On November 14, 2016, Kandi announced the abrupt resignation of Cheng Wang as the Company's Chief Financial Officer. On this news, Kandi's stock price fell $0.40 per share, or more than 10%, to close at $3.50 per share on November 14, 2016. Then, on March 13, 2017, Kandi disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that its previously issued financial statements for the years ended December 31, 2014 and 2015, and for the first three quarters of the year ended December 31, 2016 would need to be restated. On this news, Kandi's stock price fell $0.30 per share, or approximately 6%, to close at $4.05 per share on March 14, 2017. On March 16, 2017, Kandi filed its annual report for fiscal year 2016 with the SEC, in which the Company disclosed that there were material weaknesses in the Company's internal controls.
If you are aware of any facts relating to this investigation, or purchased Kandi shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/kndi. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View source version on accesswire.com:
https://www.accesswire.com/593617/KNDI-Investor-Alert-Bronstein-Gewirtz-Grossman-LLC-Announces-Investigation-of-Kandi-Technologies-Group-Inc-and-Encourages-Investors-to-Contact-the-Firm
