Trump Backs Nexstar–Tegna Merger Amid Shifting U.S. Media Landscape 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
SAN FRANCISCO, March 15, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Kandi Technologies Group, Inc. (NASDAQ:KNDI) to the recently filed securities class action related to possible accounting improprieties disclosed by KNDI on March 13, 2017. The case was filed in the United States District Court for the Central District of California. The Lead Plaintiff deadline is May 15, 2017.
If you purchased or otherwise acquired securities of KNDI between March 16, 2015 and March 13, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/KNDI
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On March 13, 2017, KNDI announced that investors should no longer rely on previously issued financial statements for the years ended December 31, 2015 and 2014 and for the first three quarters for the year ended December 31, 2016. The Company explained it would restate those previously issued financial statements and that investors should also not rely on management’s and the associated auditor’s reports on internal controls for the year ended December 31, 2015. This news drove the price of KNDI shares down almost 7% to close at $4.05 on March 14, 2017.
“We’re focused on the apparent violations of generally accepted accounting principles that could include misclassification of notes receivable and notes payable, misreporting of related party transactions, and construction-in-progress accounting matters,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding KNDI should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
