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
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 firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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