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Case Status:    ONGOING    
On or around 10/05/2020 (Date of last review)

Filing Date: June 10, 2020

According to the Complaint, Kandi Technologies Group, Inc. through its subsidiaries, designs, produces, manufactures, and distributes electric vehicles (EVs) products, EV parts, and off-road vehicles in the People’s Republic of China and internationally.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) 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; (2) that in turn, the Company lacked effective controls over financial reporting; and (3) 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.

On August 31, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. On September 25, the Court issued an Order transferring the case to the Southern District of New York.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Parts
Headquarters: China

SECURITIES INFORMATION:

Ticker Symbol: KNDI
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: C.D. California
DOCKET #: 20-CV-05171
JUDGE: Hon. Cormac J. Carney
DATE FILED: 06/10/2020
CLASS PERIOD START: 06/10/2015
CLASS PERIOD END: 03/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 20-CV-08082
JUDGE: Hon. Cormac J. Carney
DATE FILED: 09/30/2020
CLASS PERIOD START: 06/10/2015
CLASS PERIOD END: 03/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
No Document Title Filing Date
—Related District Court Filings Data is not available