Pomerantz Appointed Lead Counsel in HF Foods Group Securities Litigation

On October 13, 2020, U.S. District Judge Otis D. Wright, II of the Central District of California appointed Pomerantz LLP as Lead Counsel on behalf of Lead Plaintiff Yun F. Yee in Mendoza v. HF Foods Group Inc., 20-cv-2929 (C.D. cal.), a securities litigation being pursued on behalf of a class of defrauded investors regarding allegations that HF Foods Group (“HF Foods Group”) made false and misleading statements and failed to disclose material facts in financial statements and press releases during the putative class period.

HF Foods , through its subsidiaries, markets and distributes fresh produce, frozen and dry food products, and non-food products to Asian restaurants and other food service customers throughout the Southeast, Pacific, and Mountain West regions in the United States.

The complaint alleges that, between August 23, 2018 and March 23, 2020, HF Foods and its senior officers made false and misleading statements and failed to disclose that: (i) HF Foods engaged in undisclosed related party transactions; (ii) HF Foods insiders and related parties were enriching themselves by misusing shareholder funds; (iii) HF Foods was “gaming” the FTSE/Russell Index by masking the true number of shares free floating; and (iv) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

Pomerantz’s HF Foods litigation is led by Partner Jennifer Pafiti.