NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against AmTrust Financial Services, Inc. (“AmTrust” or the “Company”) (NASDAQ: AFSI) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased AmTrust securities between May 10, 2016 and February 24, 2017, both dates inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/afsi.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) AmTrust had ineffective assessment of the risks associated with the financial reporting; (2) AmTrust had an insufficient complement of corporate accounting and corporate financial reporting resources within the organization; (3) as a result, AmTrust lacked effective controls over financial reporting; and (4) consequently, defendants’ statements about AmTrust’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 27, 2017, AmTrust revealed that it “identified material weaknesses in its internal control over financial reporting that existed as of December 31, 2016, specifically related to ineffective assessment of the risks associated with the financial reporting, and an insufficient complement of corporate accounting and corporate financial reporting resources within the organization.” AmTrust also said that it would delay filing its 2016 annual financial statements and that it “identified and corrected errors during the three months ended December 31, 2016 related to prior periods in 2016 and 2015.” Following this news, AmTrust stock dropped $5.32 per share, or over 19.23%, to close at $22.34 on February 27, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/afsi, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in AmTrust, you have until May 1, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 456270

IRVINE, CA / ACCESSWIRE / March 29, 2017 / Khang & Khang LLP (the “Firm”) announces a class action lawsuit against USANA Health Sciences, Inc. (“USANA” or the “Company”) (NYSE: USNA). Investors, who purchased or otherwise acquired shares between March 14, 2014 and February 7, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the April 14, 2017 lead plaintiff motion deadline.

If you purchased shares of USANA during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

The complaint alleges that during the Class Period, USANA made materially false and/or misleading statements and/or failed to disclose that: the Company’s BabyCare Ltd. subsidiary engaged in improper reimbursement practices in China; that these practices constituted violations of the Foreign Corrupt Practices Act; that the Company’s China revenues were in part the product of unlawful conduct and unlikely to be sustainable; that the foregoing conduct was likely to subject the Company to significant regulatory scrutiny; and that as a result of the above, USANA’s public statements were materially false and misleading at all relevant times. On February 7, 2017, USANA announced that “[t]he Company is voluntarily conducting an internal investigation of its China operations, BabyCare Ltd. The investigation focuses on compliance with the Foreign Corrupt Practices Act…and certain conduct and policies at BabyCare, including BabyCare’s expense reimbursement policies.” When this news was announced to the public, shares of USANA declined in value.

If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

Contact:

Joon M. Khang, Esq.

Telephone: 949-419-3834

Facsimile: 949-225-4474

joon@khanglaw.com

SOURCE: Khang & Khang LLP

ReleaseID: 458471

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Rentech, Inc. (“Rentech” or the “Company”) (NASDAQ: RTK) and certain of its officers, and is on behalf of purchasers of Rentech securities between November 9, 2016 and February 20, 2017, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/rtk.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Rentech’s resources were not sufficient to overcome any operating challenges and remaining bottleneck at its Wawa facility; (2) as result, the Wawa facility would not reach approximately 60% of production capacity within the next couple quarters and achieve full capacity in the range of 400,000 to 450,000 metric tons late in the year; (3) consequently, Defendants’ statements about Rentech’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On February 21, 2017, Rentech revealed that due to equipment and operational issues that require additional unbudgeted capital investments, it would idle its Wawa facility. Rentech also mentioned “continued uncertainty” about the profitability of pellets produced at the facility and advised shareholders that it was exploring strategic alternatives for both the Wawa facility and the Company. Following this news, Rentech stock dropped over 47% from its previous closing price to close at $1.44 per share on February 21, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/rtk, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Rentech, you have until April 24, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 455886

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Northern Dynasty Minerals Ltd. (“Northern Dynasty” or the “Company”) (NYSE MKT: NAK) and certain of its officers, and is on behalf of purchasers of Northern Dynasty securities between September 16, 2013 and February 13, 2017, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/nak.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Northern Dynasty’s Pebble project is commercially unviable; (2) Northern Dynasty’s Pebble project had a negative present value; and (3) consequently, Defendants’ statements about Northern Dynasty’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.

On February 14, 2017, Kerrisdale Capital Management released an article about Northern Dynasty alleging that Northern Dynasty’s main asset, the low-grade Pebble deposit, is not commercially sustainable and that for several years the Company has been concealing this information from the investing public that the Pebble project has a negative present value. Following this news, Northern Dynasty stock dropped $0.68 per share, or over 21%, to close at $2.50 per share on February 14, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/nak, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Northern Dynasty, you have until April 17, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 455348

LAS VEGAS, NV / ACCESSWIRE / March 29, 2017 / The vibrant lights of Las Vegas have enticed generations of visitors to experience the shows, casinos and world-famous entertainment of “Sin City”. Diamond Resorts Reviews outline two accommodations, Polo Towers Villas and Polo Towers Suites, in the heart of The Las Vegas Strip. During the day guests enjoy fine dining and boutique shopping only walking distance away then join in the incomparable nightlife of the town.

At Polo Towers Villas, Diamond Resorts Reviews describe a taste of Tuscan affordable luxury, from the marble lobby to the rooftop pool overlooking one of the most famous streets in the world. The skyline of the city, which was ranked as the 13th
Most Beautiful by Thrillist is visible from the patio, balcony or terrace attached to each room. Polo Towers Villas residents are able to relax with amenities that include valet parking, massage and spa treatments, and a shuttle service to nearby attractions. Guests with a taste for retail therapy can enjoy over 100 outlets in the Miracle Mile complex only steps from Polo Towers Villas or those seeking a night out can find entertainment by some of the biggest names in show business. Of course, internationally legendary gaming is available 24 hours a day and the concierges are happy to help you get the most out of your Las Vegas vacation.

Polo Towers Suites is the ideal destination for taking in the splendor of Las Vegas and the surrounding areas. Families and couples can experience the museums in the city or spend a day on pristine Lake Mead, only thirty miles away, which is the second largest reservoir in the United States. Over two million visitors each year make the short excursion to see and hike the Red Rock Canyon where the 14.7-mile bike loop offers an unequaled view of the surrounding rock formations. Some guests even take a day trip to The Grand Canyon or Hoover Dam and learn about the history of some of the nation’s greatest landmarks. Within the Polo Towers Suites, Diamond Resorts Reviews highlight the on-site fitness center and BBQ area available to occupants.

The Las Vegas nightlife thrives just outside the doors of Polo Towers Suites and Polo Towers Villas. Guests at both resorts enjoy laundry service and multilingual front-desk attendants. World-class dining options are found in several of the nearby high-rise restaurants overlooking The Las Vegas Strip. There is no shortage of entertainment in the city, and with casinos, musicals, circuses, comedy venues and the nearby natural wonders, every Diamond Resorts International® vacationer is sure to make memories that will last a lifetime.

About Diamond Resorts International®

Diamond Resorts International®, with its network of more than 370 vacation destinations located in 35 countries throughout the continental United States, Hawaii, Canada, Mexico, the Caribbean, South America, Central America, Europe, Asia, Australasia and Africa, provides guests with choice and flexibility to let them create their dream vacation, whether they are traveling an hour away or around the world. Our relaxing vacations have the power to give guests an increased sense of happiness and satisfaction in their lives, while feeling healthier and more fulfilled in their relationships, by enjoying memorable and meaningful experiences that let them Stay Vacationed.™

Diamond Resorts International® manages vacation ownership resorts and sells vacation ownership points that provide members and owners with Vacations for Life® at over 370 managed and affiliated properties and cruise itineraries.

Diamond Resorts Reviews – Diamond Resorts International®: http://diamondresorts-reviews.com
Diamond Resorts International® Timeshare Reviews: http://diamondresortstimesharereviews.com
Diamond Resorts (@diamondresorts) – Twitter: https://twitter.com/diamondresorts
Diamond Resorts International® Why Vacations for Life® – YouTube: https://www.youtube.com/watch?v=wuBW2aWUO5s

For more information: www.diamondresorts.com

Contact Information

Angela Triano
Tel: 551-574-8332
trianoangela@yahoo.com

SOURCE: Diamond Resorts International®

ReleaseID: 458472

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Citizens, Inc. (“Citizens” or the “Company”) (NYSE: CIA) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Citizens securities between March 11, 2015 through March 8, 2017, both dates inclusive (the “Class Period”). Investors are encouraged to learn more about this case by visiting the firm’s site: http://www.bgandg.com/cia.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) Citizens’ brokers and pitchbooks falsely claimed that most of the funds from its insurance policies were directly invested in U.S. Treasury Bond; (2) funds from Citizens’ insurance policies were funneled into continuous open market purchases that inflated Citizens’ stock price; and (3) consequently, defendants’ statements about Citizens’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 8, 2017, Seeking Alpha published a report alleging that although Citizen’s promises of “outsized ‘guaranteed’ returns backed by U..S. Treasury bonds,” the company’s funds are “not invested in U.S. Treasuries and [Citizen’s] policies appear designed to prop up Citizen’s stock price.” The article continued, “[b]ecause most of the [Company’s] returns to existing policyholders are driven by funds contributed by new policyholders, Citizens displays some characteristics that appear analogous to a Ponzi scheme.” Following this news, Citizens stock dropped $0.45 per share, or over 5%, over the next two trading days to close at $8.00 per share on March 9, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/cia, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 457634

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Walter Investment Management Corp. (“Walter” or the “Company”) (NYSE: WAC) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Walter securities between May 3, 2016 and March 13, 2017, both dates inclusive (the “Class Period”). Investors are encouraged to learn more about this case by visiting the firm’s site: http://www.bgandg.com/wac.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose that: (1) Walter had a material weakness in its internal control over financial reporting; and (2) consequently, defendants’ statements about Walter’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 14, 2017, Walter revealed that it had received a subpoena from HUD Inspector General for documents and information relating to origination and underwriting of certain specified loans, that the Justice Department’s Civil Division is directing the investigation, and there is a possibility of a demand or a claim under the False Claims Act. Walter also unveiled a material weakness for its Ditech unit, which it is correcting. Following this news, Walter stock dropped $1.05 per share, or over 38%, to close at $1.65 per share on March 14, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/wac, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. You have until May 15, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 457610

NEW YORK, NY / ACCESSWIRE / March 29, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Pearson plc (“Pearson” or the “Company”) (NYSE: PSO) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Pearson American Depositary Receipts between January 21, 2016 and January 17, 2017, both dates inclusive (the “Class Period”). Such investors are advised to join this case by visiting the firm’s site: http://www.bgandg.com/pso.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the “Exchange Act”).

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements in a series of filings with the U.S. Securities and Exchange Commission. Pearson forecasted positive financial projections, stating that it expected adjusted operating profit to be at or above £800 million in 2018. The company relied on making market share gains in North American Higher Education subjects where it was launching its “next generation” courseware to reach its goal. Pearson also said that education has great growth opportunities, and that due to tight budget, Pearson was ready to deliver its financial guidance. However, the complaint alleges that Pearson officials made overly enthusiastic projections for 2017 and 2018 regarding its U.S. education business when in truth, students were not likely to purchase Pearson’s products when more affordable alternatives were available, which resulted in unsold products.

On January 18, 2017, Pearson filed its Form 6-K trading statement on for the month of January 2017 and announced that the company would not be able to meet its 2018 forecasts. Pearson mentioned “continued challenges and uncertainty in the North American higher education courseware market.” Specifically, Pearson divulged that its net revenues dropped 30% during the final quarter resulting in an unprecedented 18% drop for the full year. This decline was due mostly to lower enrollment and an accelerated impact from rental in the secondary market. Pearson also said that it was beginning 2017 with a base level of underlying profitability around £180 million lower than it had expected the previous year. Following this news, Pearson stock dropped roughly 29% to close at $7.13 per share on January 18, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: http://www.bgandg.com/pso, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Pearson, you have until April 25, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 456262

IRVINE, CA / ACCESSWIRE / March 29, 2017 / Khang & Khang LLP (the “Firm”) announces a class action lawsuit against Natus Medical Incorporated (“Natus” or the “Company”) (Nasdaq: BABY). Investors who purchased or otherwise acquired shares between October 16, 2015 and April 3, 2016, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of the March 31, 2017 lead plaintiff motion deadline.

If you purchased shares of Natus during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.

According to the Complaint, Natus made materially false and/or misleading statements, and/or failed to disclose that: the Venezuelan government failed to make tens of millions of dollars in prepayments to Natus, which were required to have been paid beginning in October 2015; that Natus had no means to effectively enforce its rights under its supply contract, as Venezuela was the exclusive forum for dispute resolution; that the Company’s receipt of revenues pursuant to the supply contract was contingent on the outcome of Venezuelan elections; and that as a result of the above, Natus was not going to achieve the increased guidance provided by the Company which lacked a reasonable basis. When this information reached the public, shares of Natus fell in value.

If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at joon@khanglaw.com.

This press release may constitute Attorney Advertising in some jurisdictions.

Contacts

Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com

SOURCE: Khang & Khang LLP

ReleaseID: 458469

LOS ANGELES, CA / ACCESSWIRE / March 29, 2017 / Lundin Law PC , a shareholder rights firm, announces a class action lawsuit against Kandi Technologies Group, Inc. (“Kandi” or the “Company”) (NASDAQ: KNDI) concerning possible violations of federal securities laws between March 16, 2015 and March 13, 2017, inclusive (the “Class Period”). Investors, who purchased or otherwise acquired shares during the Class Period, should contact the firm by the May 15, 2017 lead plaintiff motion deadline.

To participate in this class action lawsuit, click here. You can also call Brian Lundin, Esquire, of Lundin Law PC, at 888-713-1033, or e-mail him at brian@lundinlawpc.com.

No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.

The Complaint alleges that during the Class Period, Kandi made false and/or misleading statements and/or failed to disclose 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; Kandi lacked effective internal controls over financial reporting; and as a result of the above, the Company’s public statements were materially false and misleading at all relevant times.

On November 14, 2016, the Company announced the abrupt resignation of its CFO, Cheng Wang. On March 13, 2017, Kandi filed a Current Report on Form 8-K with the SEC, announcing that the Company would restate 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. When this news was announced, shares of Kandi dropped in value, causing investors harm.

Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contact:

Lundin Law PC

Brian Lundin, Esq.

Telephone: 888-713-1033

Facsimile: 888-713-1125

brian@lundinlawpc.com
http://lundinlawpc.com/

SOURCE: Lundin Law PC

ReleaseID: 458467