BOSTON, May 12, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, reminds investors that a class action lawsuit has been filed against HF Foods Group, Inc. (NASDAQ: HFFG) and certain of its officers for potential securities fraud.  Shareholders who purchased HF Foods shares between August 23, 2018 and March 23, 2020 are encouraged to contact the firm for a free case evaluation. The lead plaintiff deadline is May 28, 2020.

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: (1) HF Foods engaged in undisclosed related-party transactions; (2) insiders and related parties were enriching themselves by misusing shareholder funds; and (3) HF Foods was “gaming” the FTSE/Russell Index by masking the true number of shares free floating.

Yesterday, the Company announced that it was unable to timely file its quarterly financial report for the first quarter of 2020. HF Foods’ shares are down again in pre-market trading.

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 attorneys at (617) 398-5600, via email at cases@blockesq.com, or at https://shareholder.law/hffoods. Investors who lost money have until May 28, 2020 to ask the Court to appoint them as lead plaintiff.

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: cases@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com