ROSEN, A LEADING LAW FIRM, Announces Filing Of Securities Class Action Lawsuit Against Kandi Technologies Group, Inc.; Encourages Investors With Losses In Excess Of $100K To Contact Firm - KNDI

NEW YORK, Dec. 17, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Kandi Technologies Group, Inc.
Author:
Publish date:

NEW YORK, Dec. 17, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Kandi Technologies Group, Inc. (KNDI) - Get Report between March 15, 2019 and November 27, 2020, inclusive (the "Class Period"). The lawsuit seeks to recover damages for Kandi investors under the federal securities laws.

To join the Kandi class action, go to http://www.rosenlegal.com/cases-register-1998.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Kandi artificially inflated its reported revenues through undisclosed related party transactions, or otherwise had relationships with key customers that indicated those customers did not have an arms-length relationship with Kandi; (2) the majority of Kandi's sales in the past year had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt on the arms-length nature of their relationship; (3) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi's reported revenues and, in turn, have a foreseeable negative impact on the Company's reputation and valuation; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times. According to the suit, these true details were disclosed by a market research firm.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 9, 2021. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1998.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, 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.

Contact Information:

      Laurence Rosen, Esq.      Phillip Kim, Esq.      The Rosen Law Firm, P.A.      275 Madison Avenue, 40th Floor      New York, NY 10016      Tel: (212) 686-1060      Toll Free: (866) 767-3653      Fax: (212) 202-3827      lrosen@rosenlegal.com      pkim@rosenlegal.com      cases@rosenlegal.com      www.rosenlegal.com

View original content to download multimedia: http://www.prnewswire.com/news-releases/rosen-a-leading-law-firm-announces-filing-of-securities-class-action-lawsuit-against-kandi-technologies-group-inc-encourages-investors-with-losses-in-excess-of-100k-to-contact-firm--kndi-301195717.html

SOURCE Rosen Law Firm, P.A.