NEW YORK, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ: KNDI) resulting from allegations that Kandi might have issued misleading information to the investing public.
If you purchased Kandi securities, and/or would like to discuss your legal rights and options please visit Kandi Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
On November 30, 2020 Hindenburg Research (“Hindenburg”) published a report on Kandi. In that report, Hindenburg found 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, Kandi’s stock price fell sharply to close at $9.76 per share, a decline of approximately 28%.
If you purchased Kandi securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/kanditechnologiesgroupinc-kndi-shareholder-class-action-lawsuit-stock-fraud-337/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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