INVESTOR ALERT: Goldberg Law PC Announces an Investigation of Kandi Technologies Group, Inc. & Advises Investors with Losses ...
November 15 2016 - 3:39PM
Business Wire
Goldberg Law PC, a national shareholder rights litigation firm,
announces that it is investigating Kandi Technologies, Inc.
(“Kandi” or the “Company”) (Nasdaq: KNDI) concerning possible
violations of federal securities laws.
If you purchased or otherwise acquired Kandi shares and would
like more information regarding the investigation, we encourage you
to contact Michael Goldberg or Brian Schall, of Goldberg Law PC,
1999 Avenue of the Stars Suite 1100, Los Angeles, CA 90067, at
800-977-7401, to discuss your rights without cost to you. You can
also reach us through the firm’s website at
http://www.Goldberglawpc.com, or by email at
info@goldberglawpc.com.
The investigation focuses on whether Kandi and certain of its
officers and/or directors violated federal securities laws. On
March 15, 2016, the Chinese media reported that the Chinese
government was investigating electric car manufacturers and local
officials that may have defrauded the government of subsidy money
through a scheme whereby manufacturers were selling vehicles to
their own rental subsidiaries. On November 9, 2016, the
Company announced its financial results for the third quarter of
2016. Kandi’s revenue fell over 87% year-over-year, and its bottom
line fell to a $600,000 loss following a decision by the Chinese
government to withhold subsidies pending the results of the
investigation. On November 14, 2016, Kandi announced that its CFO
Wang Chen, would step down and assume the position of Chief
Strategy Officer, and that Mei Bing was appointed the new CFO. When
this news was announced, shares of Kandi fell in value.
If you have any questions concerning your legal rights, please
immediately contact Goldberg Law PC at 800-977-7401, or visit our
website at http://www.Goldberglawpc.com, or email us at
info@goldberglawpc.com.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20161115006710/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comhttp://www.Goldberglawpc.com
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