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TMCNet:  Kandi Technologies Group, Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP

[May 07, 2014]

Kandi Technologies Group, Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP

LOS ANGELES --(Business Wire)--

Glancy Binkow & Goldberg LLP is investigating potential claims against the Board of Directors of Kandi Technologies Group, Inc. ("Kandi" or the "Company") (NASDAQ:KNDI) related to fraud charges brought against George Tazbaz ("Tazbaz"), Shawn A. Becker ("Becker"), and Roger Lockhart ("Lockhart") by the Securities and Exchange Commission ("SEC (News - Alert)").

This investigation concerns whether the Board of Directors of Kandi breached their fiduciary duties to stockholders by allowing the CEO to issue 350,000 additional shares in the Company to Lockhart and Tazbaz for the purposes of compensating various stock promoters in the United States, including Becker. According to the SEC, the promoters allegedly agreed to laud Kandi's stock and manipulate the price to $3 per share by the end of 2009 in exchange for shares in the Company.


If you are a shareholder of KNDI, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA (News - Alert) 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to shareholders@glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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