GlobeNewswire Inc | Dec 16, 2020 04:55PM EST

December 16, 2020

PHILADELPHIA, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Kandi Technologies Group, Inc. (Kandi) (NASDAQ: KNDI) and Qiwi plc (Qiwi) (NASDAQ: QIWI) to determine whether Kandi and Qiwi engaged in securities fraud or other unlawful business practices.

Kandi Technologies Group, Inc.

INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF KANDI BETWEEN MARCH 15, 2019 AND NOVEMBER 27, 2020, BOTH DATES INCLUSIVE (THE CLASS PERIOD), AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRMS SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, SECURITIES@KEHOELAWFIRM.COM, TO DISCUSS THESECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

A class action lawsuit has been filed against Kandi in United States District Court seeking to recover damages on behalf of Kandi investors.

According to the complaint, throughout the Class Period, the Kandi Defendants made false and/or misleading statements and/or failed to disclose that (1) 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; (2) the majority of Kandi's 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; (3) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi's reported revenues and, in turn, have a foreseeable negative impact on Kandis reputation and valuation; and (4) as a result, Kandis public statements were materially false and misleading at all relevant times.

Qiwi plc

INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE SECURITIES OF QIWI BETWEEN MARCH 28, 2019 AND DECEMBER 9, 2020, BOTH DATES INCLUSIVE (THE CLASS PERIOD), AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRMS SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, MYARNOFF@KEHOELAWFIRM.COM, SECURITIES@KEHOELAWFIRM.COM, TO DISCUSS THESECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.

A class action lawsuit has been filed against Qiwi in United States District Court seeking to recover damages on behalf of Qiwi investors.

According to the complaint, throughout the Class Period, the Qiwi Defendants made false and/or misleading statements and/or failed to disclose that (1) Qiwi's internal controls related to reporting and record-keeping were ineffective; (2) consequently, the Central Bank of Russia would impose a monetary fine upon Qiwi and impose restrictions upon Qiwis ability to make payments to foreign merchants and transfer money to pre-paid cards; and (3) as a result, the Qiwi Defendants' public statements were materially false and/or misleading at all relevant times.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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