According to the Complaint, HF Foods Group Inc. through its subsidiaries, purports to market and distribute fresh produce, frozen and dry food products, and non-food products to Asian restaurants, primarily Chinese restaurants, and other foodservice customers throughout the Southeast, Pacific, and Mountain West regions in the United States.

The Complaint alleges that 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.

On June 8, 2020, the Court issued consolidated cases into Docket 20-CV-02929. On October 13, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 4. On December 11, Lead Plaintiff filed a corrected amended Complaint. Defendants filed a Motion to Dismiss the corrected amended Complaint on January 19, 2021. On August 25, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Plaintiff did not amend the Complaint and on September 17, the Court issued an Order dismissing the case with prejudice.