GlobeNewswire Inc | Dec 29, 2020 08:00PM EST

December 30, 2020

NEW YORK, Dec. 29, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Kandi Technologies Group, Inc. (NASDAQ: KNDI), Qiwi plc (NASDAQ: QIWI), ACM Research, Inc. (NASDAQ: ACMR), and Triterras, Inc. (NASDAQ: TRIT). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Kandi Technologies Group, Inc. (NASDAQ: KNDI)

Class Period: March 15, 2019 to November 27, 2020

Lead Plaintiff Deadline: February 9, 2021

OnNovember 30, 2020, Hindenburg Research (Hindenburg) published a report entitled Kandi: How This China-Based NASDAQ-Listed Company Used Fake Sales, EV Hype to Nab$160 MillionFrom U.S. Investors. Citing extensive on-the-ground inspection at Kandis factories and customer locations inChina, interviews with over a dozen former employees and business partners, and review of numerous litigation documents and international public records, the Hindenburg report asserted 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[.]

Following the publication of the Hindenburg report, Kandi's stock price fell$3.86per share, or 28.34%, to close at $9.76per share onNovember 30, 2020.

The complaint, filed on December 11, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Companys business, operational, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) the majority of Kandis 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; (iii) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandis reported revenues and, in turn, have a foreseeable negative impact on the Company's reputation and valuation; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

For more information on the Kandi class action go to: https://bespc.com/cases/KNDI

Qiwi Plc (NASDAQ: QIWI)

Class Period: March 28, 2019 to December 9, 2020

Lead Plaintiff Deadline: February 9, 2021

Qiwi together with its subsidiaries, purports to operate electronic online payment systems primarily in the Russia, Kazakhstan, Moldova, Belarus, Romania, the United Arab Emirates, and internationally.

On December 9, 2020, after the market closed, Qiwi filed a Form 6-K with the SEC, announcing that the Central Bank of Russia had imposed a fine of approximately $150,000 for deficient record-keeping and reporting, and suspended the Companys conduct most types of payments to foreign merchants and money transfers to pre-paid cards from corporate accounts.

On this news, Qiwis ADS price fell $2.80 per share, or 20.6%, to close at $10.79 per share on December 10, 2020.

The complaint, filed on December 11, 2020, alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Qiwis internal controls related to reporting and record-keeping were ineffective; (2) consequently, the Central Bank of Russia would impose a monetary fine upon the Company and impose restrictions upon the Companys ability to make payments to foreign merchants and transfer money to pre-paid cards; and (3) as a result, defendants public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Qiwi class action go to: https://bespc.com/cases/QIWI

ACM Research, Inc. (NASDAQ: ACMR)

Class Period: March 6, 2019 to October 7, 2020

Lead Plaintiff Deadline: February 19, 2021

On October 8, 2020, analyst J Capital Research (J Capital) published a report concerning ACM, in which J Capital concluded that ACM is a fraud, over-reporting both revenue and profit. The report cited, among other things, J Capitals visits to sites in China, Korea, and California and more than 40 interviews. J Capital asserted that [w]hat real profit the company has is apparently being siphoned off to related parties. The J Capital report concluded that ACMs revenue was overstated by 15-20% and claimed to have evidence that undisclosed related parties are diverting revenue and profit from the company.

Following this news, ACMs stock price $1.09 per share, or 1.52%, to close at $70.79 per share on October 8, 2020.

The complaint, filed on December 21, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Companys business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the Companys revenue and profits had been diverted to undisclosed related parties; (ii) accordingly, the Company had materially overstated its revenues and profits; and (iii) as a result, the Companys public statements were materially false and misleading at all relevant times.

For more information on the ACM research class action go to: https://bespc.com/cases/ACMR

Triterras, Inc. (NASDAQ: TRIT)

Class Period: August 20, 2020 to December 16, 2020

Lead Plaintiff Deadline: February 19, 2021

Triterras is a fintech company focused on trade and trade finance. It operates Kratos, a commodity trading and trade finance platform that connects commodity traders to trade and source capital from lenders directly online. Triterras formed via merger of Netfin and Triterras Fintech Pte. Ltd., which closed on November 11, 2020.

Rhodium Resources Pte. Ltd. (Rhodium) is a commodity trading business controlled by Srinivas Koneru, the Companys Chief Executive Officer (CEO). Rhodium enabled the launch of the Kratos platform, and substantially all of the Companys users were referred to it by Rhodium.

On December 17, 2020, Triterras stated that Rhodium was seeking a moratorium to shield itself from creditor actions while it planned a restructuring of its debts and continue its business as a going concern.

On this news, the Companys share price fell $4.11, or 31%, to close at $9.09 per share on December 17, 2020. The Companys warrant price fell $1.09, or 35%, to close at $2.01 per warrant on December 17, 2020.

The complaint, filed on December 21, 2020, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) the extent to which Companys revenue growth relied on Triterras relationship with Rhodium to refer users to the Kratos platform; (2) that Rhodium faced significant financial liabilities that jeopardized its ability to continue as a going concern; (3) that, as a result, Rhodium was likely to refer fewer users to the Companys Kratos platform; and (4) that, as a result of the foregoing, defendants positive statements about the Companys business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Triterras class action go to: https://bespc.com/cases/TRIT

About Bragar Eagel & Squire, P.C.:Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information:Bragar Eagel & Squire, P.C.Brandon Walker, Esq. Melissa Fortunato, Esq.Marion Passmore, Esq.(212) 355-4648investigations@bespc.comwww.bespc.com