2011-05-09 17:19:15 - The Shareholders Foundation announces that an investigation on behalf of investors of Kandi Technologies Corp. (NASDAQ:KNDI) over possible securities laws violations was initiated and KNDI stockholders should email to mail@shareholdersfoundation.com

An investigation on behalf of investors in Kandi Technologies Corp. (NASDAQ:KNDI) shares over potential violations of Federal Securities Laws by Kandi Technolgies was announced.

If you purchased shares of Kandi Technologies Corp. (Public, NASDAQ:KNDI), and/or if you have any information relating the investigation, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on potential securities fraud claims against Kandi Technologies Corp. (NASDAQ: KNDI) resulting from allegations that Kandi Technologies Corp may have issued materially inaccurate financial statements to the investing public between March 31, 2009 and May 4, 2011.
Kandi Technologies Corp. (KNDI) reported an increase in its 12months Total Revenue from $34.70million in 2007

to $42.88million in 2010. However, its Net Income decreased from $5.03million in 2007 to a Net Loss of $0.95million in 2010.

Shares of Kandi Technologies Corp. (NASDAQ:KNDI) traded during 2008 as high as $6 per share but fell during 2009 to $.059 per share. Until the end of 2009 KNDI shares regained value and traded in the end of 2009 at %.79 per share. During 2010 KNDI shares again lost some value and traded as low as $3.03 but again traded at the end of the year at roughly $6 per share. Since then KNDI shares fell from roughly $5 per share to roughly $3 during April 2011.

Then on May 4, 2011, a report published by Justin McLachlan and Chris Carey of the analyst firm Sharesleuth concluded, following extensive channel checks, that Kandi Technologies Corp had materially overstated sales and revenue figures in its U.S. Securities and Exchange Commission (“SEC”) filings.

Kandi Technologies, Corp. said it intends to release a response as soon as possible regarding a recent online story about Kandi.

Shares of Kandi Technolgies Corp. (Public, NASDAQ:KNDI) dropped from almost $3 in the beginning of May to under $2 during May 5, 2011.

Those who purchased shares of Kandi Technolgies Corp. (Public, NASDAQ:KNDI), and/or those who have any information relating the investigation, have certain options and should contact the Shareholders Foundation.