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A class action lawsuit has been filed against Kandi in United States District Court seeking to recover damages on behalf of Kandi investors. According to the complaint, throughout the Class Period, the Kandi Defendants made false and/or misleading statements and/or failed to disclose that (1) Kandi artificially inflated its reported revenues through undisclosed related party transactions, or otherwise had relationships with key customers that indicated those customers did not have an arms-length relationship with Kandi; (2) the majority of Kandi s sales in the past year had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt on the arms-length nature of their relationship; (3) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi s reported revenues and, in turn, have a foreseeable negative impact on Kandi s reputation and valuation; and (4) as a result, Kandi s public

New yorkUnited statesCounsel or coKehoe law firmCentral bankUnited states district courtKandi technologies group incLaw firmKandi technologies groupTechnologies groupClass periodKandi defendantsQiwi defendantsQiwi defendantLead counselCo lead counsel