CLASS ACTION UPDATE for BABA, SPLK and KNDI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
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CLASS ACTION UPDATE for BABA, SPLK and KNDI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Thursday, December 31, 2020 12:15 PM
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Lawsuits

NEW YORK, NY / ACCESSWIRE / December 31, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

BABA Shareholders Click Here: https://www.zlk.com/pslra-1/alibaba-group-holding-limited-loss-submission-form?prid=11886&wire=1
SPLK Shareholders Click Here: https://www.zlk.com/pslra-1/splunk-inc-loss-submission-form?prid=11886&wire=1
KNDI Shareholders Click Here: https://www.zlk.com/pslra-1/kandi-technologies-group-inc-loss-submission-form?prid=11886&wire=1

* ADDITIONAL INFORMATION BELOW *

Alibaba Group Holding Limited (NYSE:BABA)

BABA Lawsuit on behalf of: investors who purchased July 20, 2020 - November 3, 2020
Lead Plaintiff Deadline : January 12, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/alibaba-group-holding-limited-loss-submission-form?prid=11886&wire=1

According to the filed complaint, during the class period, Alibaba Group Holding Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Ant Small and Micro Financial Services Group Co., Ltd. ("Ant Group"), a financial technology company in which Alibaba owns a 33% equity interest, did not meet listing qualifications or disclosure requirements for certain material matters; (2) certain impending changes in the Fintech regulatory environment would impact Ant Group's business; (3) as a result of the foregoing, Ant Group's initial public offering was reasonably likely to be suspended; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Splunk Inc. (NASDAQ:SPLK)

SPLK Lawsuit on behalf of: investors who purchased October 21, 2020 - December 2, 2020
Lead Plaintiff Deadline : February 2, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/splunk-inc-loss-submission-form?prid=11886&wire=1

According to the filed complaint, during the class period, Splunk Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.

Kandi Technologies Group, Inc. (NASDAQ:KNDI)

KNDI Lawsuit on behalf of: investors who purchased March 15, 2019 - November 27, 2020
Lead Plaintiff Deadline : February 9, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/kandi-technologies-group-inc-loss-submission-form?prid=11886&wire=1

According to the filed complaint, during the class period, Kandi Technologies Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Kandi artificially inflated its reported revenues through undisclosed related party transactions, or otherwise had relationships with key customers that indicated those customers did not have an arms length relationship with Kandi; (ii) the majority of Kandi's sales in the past year had been to undisclosed related parties and/or parties with such a close relationship and history with Kandi that it cast doubt on the arms-length nature of their relationship; (iii) all the foregoing, once revealed, was foreseeably likely to cast doubt on the validity of Kandi's reported revenues and, in turn, have a foreseeable negative impact on the Company's reputation and valuation; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP
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