NEW YORK, April 7, 2020 /PRNewswire/ -- Bernstein Liebhard,
a nationally acclaimed investor rights law firm, announces that a
securities class action has been filed on behalf of investors that
purchased or acquired the securities of HF Foods Group Inc. ("HF
Foods" or the "Company") (NASDAQ: HFFG) between August 23, 2018, and March
23, 2020 (the "Class Period"). The lawsuit filed in
the United States District Court
for the Central District of California alleges violations of the
Securities Exchange Act of 1934.
If you purchased HF Foods securities, and/or would like to
discuss your legal rights and options please visit HF Foods
Shareholder Class Action or contact Matthew
E. Guarnero toll free at (877) 779-1414 or
MGuarnero@bernlieb.com.
The Complaint alleges that throughout the Class Period,
Defendants made materially false and misleading statements
regarding the Company's business, operational and compliance
policies. Specifically, Defendants 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.
On March 23, 2020, Hindenburg
Research published a report revealing that HF Foods had, among
other things, failed to disclose: (i) transactions with
related-parties; (ii) its flagrant misuse of shareholder funds; and
(iii) its gaming of the FTSE/Russell Index criteria.
On this news, shares of HF Foods' fell $2.52 per share, or over 20%, to close at
$9.80 per share on March 23, 2020, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court
no later than May 28, 2020. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery doesn't require that you serve as lead plaintiff. If you
choose to take no action, you may remain an absent class
member.
If you purchased HF Foods securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/hffoodsgroupinc-hffg-shareholder-class-action-lawsuit-stock-fraud-269/apply/
or contact Matthew E. Guarnero toll
free at (877) 779-1414 or
MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over
$3.5 billion for its clients. In
addition to representing individual investors, the Firm has been
retained by some of the largest public and private pension funds in
the country to monitor their assets and pursue litigation on their
behalf. As a result of its success litigating hundreds of lawsuits
and class actions, the Firm has been named to The National
Law Journal's "Plaintiffs' Hot List" thirteen times and
listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Matthew E. Guarnero
Bernstein Liebhard LLP
https://www.bernlieb.com
(877) 779-1414
MGuarnero@bernlieb.com
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SOURCE Bernstein Liebhard LLP