On or around 10/13/2020 (Date of last review)
Filing Date: March 29, 2020
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.
Company & Securities Information
Defendant: HF Foods Group Inc.
Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States
Ticker Symbol: HFFG
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Jesus Mendoza, et al. v. HF Foods Group Inc., et al.