KNDI...I found this on another site...for what it's worth..
SEC probe of Kandi Technologies has risen to a formal investigation
Posted on March 28, 2014 by Chris Carey
The Securities and Exchange Commission is conducting a formal investigation of Kandi Technologies Corp. (Nasdaq: KNDI), a Chinese company that has been the subject of several Sharesleuth stories.
Kandi did not mention the investigation in the press release it issued last week to announce its fourth-quarter and full-year earnings. Instead, it disclosed the probe in its annual SEC filing, in the middle of a long list of potential risk factors.
Kandi offered no details on the nature of the investigation, which began in November. It said only that it was furnishing documents and other information to the SEC’s regional office in Denver.
“As indicated in the subpoena, the investigation is a fact-finding inquiry and does not mean that the Company or anyone has broken the law,’’ Kandi said in the filing. “The Company has cooperated, and is cooperating fully, with the SEC in this matter and will continue to supply the SEC with whatever additional information and material that is requested.”
The fact that the SEC has issued a subpoena indicates that the probe has moved beyond the informal stage and now is classified as a formal investigation; According to a guide on the SEC’s website, its enforcement attorneys cannot issue subpoenas unless the commission authorizes a formal investigation.
A formal order of investigation allows the SEC’s enforcement staff to compel testimony from officers, directors and employees, as well as third parties, such as suppliers, customers and other
