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ANGELS, February 8, 2021 / PRNewswire / – Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Kandi Technologies Group, Inc. (“Kandi” or “the Company”) (NASDAQ: KNDI) for violation of §§ 10 (b) and 20 (a) of the Securities Exchange Act of 1934 and the rule 10b-5 promulgated thereunder by the United States Securities and Exchange Commission.
Investors who purchased the securities of the Company between March 15, 2019 and November 27, 2020, inclusive (the “ Recourse Period ”), are encouraged to contact the Firm prior to February 9, 2021.
If you are a lost shareholder, click here to participate.
We also encourage you to contact Brian schall Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights for free. You can also reach us through the company website at www.schallfirm.com, or by email to [email protected].
The group, in this case, has not yet been certified, and until certification occurs, you are not represented by legal counsel. If you choose to do nothing, you can remain an absent group member.
According to the complaint, the company made false and misleading statements to the market. Kandi artificially inflated her income using a system involving undisclosed related party transactions. These undisclosed related party transactions, along with transactions with parties in which an arm’s length relationship was in doubt, accounted for the majority of the company’s sales in the past year. When the related party scheme came to light, it cast doubt on the company’s reported income and damaged its reputation. Based on these facts, the company’s public statements were false and materially misleading throughout the appeal period. When the market learned the truth about Kandi, investors suffered damage.
Join the case to recoup your losses.
Schall Law Firm represents investors around the world and specializes in securities class actions and shareholder rights litigation.
This press release may be considered an advertisement for lawyers in certain jurisdictions under applicable law and ethical rules.
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