BOSTON, March 30, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against HF Foods Group, Inc. (NASDAQ: HFFG) and certain of its officers for potential securities fraud. Investors who purchased HF Foods shares between August 23, 2018 and March 23, 2020 are encouraged to contact the firm for a free case evaluation.
On March 23, 2020, Hindenburg Research issued a critical report alleging that HF Foods engaged in “massive undisclosed related-party transactions,” that shareholder cash was “spent on exotic supercars,” and that the Company had an “outrageous fundamental valuation.”
The lawsuit, filed in the U.S. District Court for the Central District of California, alleges that the Company made false and misleading statements and/or failed to disclose that HF Foods: (1) engaged in undisclosed related-party transactions; (2) insiders and related parties were enriching themselves by misusing shareholder funds; (3) was “gaming” the FTSE/Russell Index by masking the true number of shares free floating; and (4) as a result, the Company’s public statements were materially false and/or misleading at all relevant times.
If you purchased or acquired shares of HF Foods common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorney Jake Walker at (617) 398-5600, via email at jake@blockesq.com, or at https://shareholder.law/hffoods.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: jake@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com