Micron to Buy Powerchip Fab for $1.8 Billion, Shares Surge Nearly 10% 
FAA Says It Is Not Blocking Boeing 737 MAX 7 and MAX 10 Certification 
Lynas Rare Earths Shares Surge as Quarterly Revenue Jumps on Strong Prices 
Baidu Shares Rise in Hong Kong After Apollo Go Robotaxi Launch in Abu Dhabi 
OpenAI Launches Stargate Community Plan to Offset Energy Costs and Support Local Power Infrastructure 
BHP Posts Record Iron Ore Output as China Pricing Pressures Loom 
Tesla Revives Dojo Supercomputer Project With AI5 Chip at the Core 
Court Allows Expert Testimony Linking Johnson & Johnson Talc Products to Ovarian Cancer 
Proposed Rio Tinto–Glencore Merger Faces China Regulatory Hurdles and Asset Sale Pressure 
Morgan Stanley Flags High Volatility Ahead for Tesla Stock on Robotaxi and AI Updates 
Apple China Holiday Sale Offers Discounts Up to 1,000 Yuan on Popular Devices 
Pop Mart Shares Surge in Hong Kong After First Buyback in Nearly Two Years 
Brazil Supreme Court Orders Asset Freeze of Nelson Tanure Amid Banco Master Investigation 
Rio Tinto Posts Strong Q4 Iron Ore and Copper Output on Operational Recovery 
Memory Chip Shortage Drives Higher Gadget Prices and Weakens Global Tech Demand 
Apple Stock Jumps as Company Prepares Major Siri AI Chatbot Upgrade 
Valero Makes First Venezuelan Crude Purchase Under New U.S.-Caracas Deal 
SAN FRANCISCO, April 28, 2017 -- Hagens Berman Sobol Shapiro LLP alerts investors in Kandi Technologies Group, Inc. (NASDAQ:KNDI) to the expanded class period in the pending securities class action. The expanded class period is November 15, 2013 through and including March 13, 2017. The Lead Plaintiff deadline is May 15, 2017.
If you purchased or otherwise acquired securities of KNDI between November 15, 2013 and March 13, 2017 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
https://www.hbsslaw.com/cases/KNDI
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing [email protected].
On March 13, 2017, KNDI announced that investors should no longer rely on previously issued financial statements for the years ended December 31, 2015 and 2014 and for the first three quarters for the year ended December 31, 2016. The Company explained it would restate those previously issued financial statements and that investors should also not rely on management’s and the associated auditor’s reports on internal controls for the year ended December 31, 2015. This news drove the price of KNDI shares down almost 7% to close at $4.05 on March 14, 2017.
On March 16, 2017, KNDI filed its Annual Report on Form 10-K restating previously issued financial statements for the years ended December 31, 2015 and 2014 and for the first three quarters for the years ended December 31, 2015 and 2016. The Company reported restatements of several of accounts that include accounts receivable, notes receivable, accounts payable, and others. This news drove the price of KNDI shares approximately 8.6% to close at $3.70 on March 16, 2017.
“We’re focused on the damages suffered by investors caused by the Company’s admittedly false historical financial reports,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding KNDI should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [email protected].
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. cFor the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
