BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased HF Foods Group Inc. ("HF Foods" or "the Company") (NASDAQ: HFFG) securities between August 23, 2018 and March 23, 2020, inclusive (the “Class Period”). HF Foods investors have until May 28, 2020 to file a lead plaintiff motion.
Investors suffering losses on their HF Foods investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On March 23, 2020, Hindenburg Research released a report claiming 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.”
On this news, the Company’s share price fell $2.52, or over 20%, to close at $9.80 per share on March 23, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that HF Foods engaged in undisclosed related party transactions; (2) that HF Foods insiders and related parties were enriching themselves by misusing shareholder funds; (3) that 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.
If you purchased HF Foods securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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