EV-Battery Maker Kandi Beats Investor Class Suit Over Finances

Kandi Technologies Group trounced shareholder accusations that the electric vehicle parts maker misled them on its ability to remediate issues with its financial reporting.

The investor leading the class action didn’t offer timely evidence to demonstrate loss causation and damages tied to stock selloffs, Judge Dale E. Ho said while ordering that the case be closed.

The stockholder first presented his expert’s analysis on those points nine months after the close of discovery as an attachment to summary judgment papers, the US District Court for the Southern District of New York judge said. The court’s prior scheduling order had been ...