Le Lézard
Classified in: Business
Subject: ATY

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Kandi Technologies Group, Inc. - KNDI


NEW YORK, July 13, 2020 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of  Kandi Technologies Group, Inc. ("Kandi" or the "Company") (NASDAQ: KNDI).  Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Kandi and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action] 

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.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 9980

SOURCE Pomerantz LLP


These press releases may also interest you

at 07:29
In a strategic move to address the growing talent shortage in the global construction equipment industry, XCMG Machinery (SHE:000425, "XCMG") has launched an extensive cross-training program for its employees from XCMG Global Business Headquarters....

at 07:05
Syngenta Group today announced financial results for the fourth quarter and full year 2023. Syngenta Group sales for full year 2023 were $32.2 billion, down $1.2 billion or 4 percent year-on-year (-1% CER). Full year EBITDA decreased 18 percent...

at 07:00
Scrum Ventures, a San Francisco and Tokyo-based early-stage venture capital firm, announced that NBA Champion and entrepreneur Kyle Kuzma, will join the fund as an advisor....

at 07:00
Operation HOPE announced today that "FINANCIAL LITERACY FOR ALL," the latest book by its Founder and CEO John Hope Bryant, has reached #1 on Amazon for Economics, prior to its April 16, 2024 release. From the best-selling author of "Up from Nothing,"...

at 06:37
According to a Department of Justice press release, a South Carolina man was recently sentenced to serve time in federal prison after a criminal tax conviction. This story should serve as a reminder that the consequences of intentionally dodging tax...

at 06:17
NEI Global Relocation's latest whitepaper, "2024 Relocation Trends | Manufacturing," provides a compelling look into how innovative relocation strategies are crucial for the manufacturing sector's talent acquisition and retention efforts. This comes...



News published on and distributed by: