San Diego, CA -- (SBWIRE) -- 07/03/2020 -- An investor, who purchased shares of Kandi Technologies Group Inc (NASDAQ: KNDI), filed a lawsuit over alleged violations of Federal Securities Laws by Kandi Technologies Group Inc.

Investors who purchased shares of Kandi Technologies Group Inc (NASDAQ: KNDI) have certain options and for certain investors are short and strict deadlines running. Deadline: August 10, 2020. NASDAQ: KNDI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On November 14, 2016, Kandi Technologies Group Inc announced the resignation of Cheng Wang as its CFO.

On March 13, 2017, Kandi Technologies Group Inc announced that it will restate "the Company's previously issued financial statements for the years ended December 31, 2015 and 2014, and the first three quarters for the year ended December 31, 2016" and that these statements should no longer be relied upon.

The plaintiff claims that between June 10, 2015 and March 13, 2017, the Defendants failed to disclose to investors that certain areas in the Company's previously issued financial statements for the years ended December 31, 2015 and 2014, and the first three quarters for the year ended December 31, 2016 required adjustment, that in turn, the Company lacked effective controls over financial reporting, and that as a result, Defendants' statements about the Company's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times

Those who purchased shares of Kandi Technologies Group Inc (NASDAQ: KNDI) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.