NEW YORK, March 14, 2017 /PRNewswire/ -- Tripp Levy PLLC, a
national securities litigation firm, is investigating whether Kandi
Technologies Corp. ("Kandi" or the "Company") (NASDAQ: KNDI) and
certain of its officers and directors violated federal securities
laws following the Company's announcement that its shareholders
should not rely on the Company's previously issued financial
statements and that it will restate its financial results for 2014,
2015, and the first three quarters of 2016.
On March 13, 2017, after the
markets closed, Kandi announced that, the Company identified issues
with its financial statements for 2014, 2015, and the first three
quarters of 2016. These issues, Kandi said, require it to restate
various financial statements, including for certain equity
investments, corrections to the classification of notes receivable
and payable in its cash flow statements, separate identification of
related party accounts in the face of balance sheets and the
consolidated statements of income loss and comprehensive income,
and amendment of certain taxes, among others.
Because of these issues, the Company's management concluded that
Kandi's previously issued financial statements should no longer be
relied upon and that the Company is reassessing its internal
controls over financial reporting.
On this news, the Company's stock has fallen in intra-day
trading, causing losses to investors.
If you purchased shares of Kandi Technologies and suffered
losses on your investment and would like to learn more about this
investigation and your ability to potentially recover your losses,
please contact us either by email at contact@tripplevy.com or by
telephone at 1-800-511-7037 or contact us via our website.
Tripp Levy PLLC
New York, New York
Toll Free: 800.511.7037
International: 602.241.2841
Email: contact@tripplevy.com
www.tripplevy.com
Tripp Levy PLLC is a national law firm representing plaintiffs
in a wide range of matters against corporate wrongdoers.
This notice constitutes attorney advertising
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SOURCE Tripp Levy PLLC