Kandi Technologies Group, Inc. Board of Directors Under Investigation by Glancy Binkow & Goldberg LLP
May 07 2014 - 6:56PM
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”).
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 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.
Glancy Binkow & Goldberg LLPLouis Boyarsky,
Esquire310-201-9150 or 888-773-9224shareholders@glancylaw.com
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