LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, 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.
If you suffered a loss on your HF Foods investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email firstname.lastname@example.org or visit our website at www.glancylaw.com to learn more about your rights.
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 during the Class Period, you may move the Court no later than May 28, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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