HF Foods Group Inc.
Lead Plaintiff Deadline: 05/28/2020
SUMMARY OF CASE:
A securities class action has been filed against HF Foods Group Inc. (HFFG) on behalf of purchasers of the securities of HF Foods between August 23, 2018 through March 23, 2020. This case has been filed in the USDC – C.D. Cal.
The Complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) HF Foods engaged in undisclosed related party transactions; (2) HF Foods insiders and related parties were enriching themselves by misusing shareholder funds; (3) HF Foods was “gaming” the FTSE/Russell Index by masking the true number of shares free floating; and (4) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.