GlobeNewswire Inc | Jan 8, 2021 10:06AM EST

January 08, 2021

NEW YORK, Jan. 08, 2021 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Kandi Technologies Group, Inc. (NASDAQ: KNDI) between March 15, 2019 and November 27, 2020, inclusive (the Class Period).

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=kandi-technologies-group-inc-2&id=2529 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or emailinfo@zhanginvestorlaw.comfor information on the class action.

http://zhanginvestorlaw.com/join-action-form/?slug=kandi-technologies-group-inc-2&id=2529

If you wish to serve as lead plaintiff, you must move the Court before the February 9, 2021 DEADLINE. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that- 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; 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; 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 Companys reputation and valuation; and as a result, the Companys 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.

Lead plaintiff status is not required to seek compensation. You may retain counsel of your choice. You may remain an absent class member and take no action at this time.

Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.

Zhang Investor Law P.C.99 Wall Street, Suite 232New York, New York 10005info@zhanginvestorlaw.comtel: (800) 991-3756