EQUITY ALERT: Levi & Korsinsky, LLP Reminds Shareholders of Kandi Technologies Group, Inc. of a Class Action and a Lead Plaintiff Deadline of May 15, 2017 – KNDI

NEW YORK, NY / ACCESSWIRE / April 27, 2017 / The following statement is being issued by Levi & Korsinsky, LLP:

To: All persons or entities who purchased or otherwise acquired securities of Kandi Technologies Group, Inc. (“Kandi Technologies”) (NASDAQ: KNDI) between May 12, 2014 and March 13, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information, go to: http://www.zlk.com/pslra-sa/kandi-technologies?wire=1, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that throughout the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) certain areas in Kandi’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; (2) in turn, Kandi lacked effective controls over financial reporting; and (3) as a result, defendants’ statements about Kandi’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times

On March 14, 2017, Kandi revealed that its 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 will need to be restated. On this news, shares of Kandi fell approximately 7% to close at $4.05 per share on March 14, 2017, further damaging investors.

If you suffered a loss in Kandi Technologies, 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.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
30 Broad Street – 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

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