NEW YORK, March 14, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Kandi Technologies Group, Inc. ("Kandi" or the "Company") (NASDAQ: KNDI).
The investigation focuses on whether the Company and its executives violated federal securities laws.
Specifically, after market close on March 13, 2017, Kandi filed a Form 8-K with the Securities and Exchange Commission disclosing that "the Company's management identified 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, that require adjustment…" Additionally, the Company stated that the aforementioned financial statements "should no longer be relied upon." On this news, shares of Kandi significantly declined during intraday trading on March 14, 2017, causing harm to investors.
Request more information now by clicking here: www.faruqilaw.com/KNDI. There is no cost or obligation to you.
If you invested in Kandi stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/KNDI. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Kandi's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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