Press release
Lawsuit filed for Investors in shares of HF Foods Group Inc. (NASDAQ: HFFG)
A lawsuit was filed on behalf of investors in HF Foods Group Inc. (NASDAQ: HFFG) shares over alleged securities laws violations.
Investors, who purchased shares of HF Foods Group Inc. (NASDAQ: HFFG), have certain options and for certain investors are short and strict deadlines running. Deadline: May 28, 2020. NASDAQ: HFFG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 23, 2020, Hindenburg Research released a report alleging that HF Foods engaged in "massive undisclosed related-party transactions," that shareholder money was "spent on exotic supercars," and that the Company had an "outrageous fundamental valuation."
Shares of (NASDAQ: HFFG) declined from $27.65 per share in November 2019 to as low as $7.50 per share on March 16, 2020.
The plaintiff claims that between August 23, 2018 and March 23, 2020, the defendants made false and/or misleading statements and/or failed to disclose that HF Foods engaged in undisclosed related party transactions, that HF Foods insiders and related parties were enriching themselves by misusing shareholder funds, that HF Foods was "gaming" the FTSE/Russell Index by masking the true number of shares free floating, and that 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.
Those who purchased shares of HF Foods Group Inc. (NASDAQ: HFFG) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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