GlobeNewswire Inc | Feb 2, 2021 08:00AM EST

February 02, 2021

Click here to join the case

LOS ANGELES, Feb. 02, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Kandi Technologies Group, Inc. ("Kandi" or "the Company") (NASDAQ: KNDI) investors that acquired securities between March 15, 2019 and November 27, 2020.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

The complaint alleges that throughout the class period Kandi issued materially misleading and/or false statements and/or failed to disclose that: (i) Kandis reported revenues were artificially inflated through undisclosed related party transactions, or otherwise had relationships with key customers indicating that those customers did not have an arms length relationship with Kandi; (ii) in the past year, the majority of Kandi's sales had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt in regard to the arms-length nature of their relationship; (iii) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi's reported revenues, having a foreseeable negative impact on the Kandis valuation and reputation; and (iv) as a result, Kandis public statements were materially misleading and false at all relevant times, as a result.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firms founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.Admitted CA and NY Barlesley@portnoylaw.com310-692-8883www.portnoylaw.com

Attorney Advertising