ROSEN, A TOP RANKED LAW FIRM, Announces Investigation of Securities Claims Against Kandi Technologies Group, Inc. – KNDI

Nachrichtenquelle: Business Wire (engl.)
02.12.2020, 00:14  |  179   |   |   

Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Kandi Technologies Group, Inc. (NASDAQ: KNDI) resulting from allegations that Kandi may have issued materially misleading business information to the investing public.

On November 30, 2020, Hindenburg Research published a report entitled “Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab $160 Million From U.S. Investors[.]” Citing “extensive on-the-ground inspection at Kandi's factories and customer locations in China, interviews with over a dozen former employees and business partners, and review of numerous litigation documents and international public records,” the Hindenburg report alleged that almost 64% of Kandi's sales over the year have been to undisclosed related parties. The report also alleged that “[Kandi] has consistently booked revenue it cannot collect, a classic hallmark of fake revenue[.]”

On this news, shares of Kandi fell $3.86, or 28%, to close at $9.76 per share on November 30, 2020, damaging investors.

Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Kandi’s investors. If you purchased shares of Kandi, please visit the firm’s website at http://www.rosenlegal.com/cases-register-1998.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Kandi Technologies Group Aktie jetzt über den Testsieger (Finanztest 11/2020) handeln, ab 0 € auf Smartbroker.de



Diesen Artikel teilen

Schreibe Deinen Kommentar

Bitte melden Sie sich an, um zu kommentieren. Anmelden | Registrieren

 

Disclaimer

ROSEN, A TOP RANKED LAW FIRM, Announces Investigation of Securities Claims Against Kandi Technologies Group, Inc. – KNDI Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Kandi Technologies Group, Inc. (NASDAQ: KNDI) resulting from allegations that Kandi may have issued materially …

Nachrichten des Autors

Titel
Titel
Titel
Titel