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HF Foods Group Inc.

Company NameHF Foods Group Inc.
Stock SymbolHFFG
Class PeriodAugust 23, 2018 to March 23, 2020
Lead Plaintiff Motion DeadlineMay 28, 2020

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.

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Shares Purchased

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Shares Sold

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