Defendant Name:
Kandi Technologies Group, Inc.
Defendant Type:
Public Company
Document Reference:
33-11240-s
Document Details
Legal Case Name
In the Matter of Kandi Technologies Group, Inc.
Document Name
SEC Charges China-Based Vehicle Manufacturer with Making Materially Misleading Statements Regarding Its Planned Launch of Electric Vehicles in the U.S.
Document Date
21-Sep-2023
Document Format
Administrative Proceeding
Allegation Type
Issuer Reporting and Disclosure
Document Summary
On September 21, 2023, the SEC "announced settled charges against Kandi Technologies Group, Inc. (“Kandi”), a China-based vehicle manufacturer. The SEC’s Order finds that throughout 2019 and 2020, Kandi made materially misleading statements and omissions in periodic filings and press releases about its planned launch of highway passenger electric vehicles (“EVs”) in the United States. Without admitting or denying the findings, Kandi consented to a cease-and-desist order and payment of a $710,000 civil penalty."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Monetary Penalties:
Civil Penalty
Individual:
$710,000.00
Shared: