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The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone or text 310-692-8883 or email: [email protected], to discuss their legal rights, or via www.portnoylaw.com.
HF Foods Group Inc. HF Foods markets and distributes fresh produce, frozen and dry food products, and non-food products to Asian restaurants, primarily Chinese restaurants, and other foodservice customers throughout the Southeast, Pacific, and Mountain West regions in the United States. The lawsuit alleges that between August 23, 2018 and March 23, 2020, HF Foods misled investors and 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.
Fifth Third Bancorp The lawsuit alleges that throughout the class period, February 26, 2016, and March 6, 2020, defendants made false and misleading and/or failed to disclose that: (1) as a result of Fifth Third Bank’s aggressive incentive policies to promote its cross-sell strategy, Fifth Third Bank employees engaged in unauthorized conduct with customer accounts; (2) since at least 2008, Fifth Third Bank, and by extension, Fifth Third, was aware of such unauthorized conduct and, thus, that it was violating relevant regulations and laws aimed at protecting its consumers; (3) Fifth Third failed to properly implement and monitor its cross-sell program, detect and stop misconduct, and identify and remediate harmed consumers; (4) all the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny or investigation; (5) Fifth Third’s revenues were in part the product of unlawful conduct and thus unsustainable; and (6) as a result, the Company’s public statements were materially false and misleading at all relevant times.
VMWare, Inc. On February 27, 2020, VMware announced that the Enforcement Division of the Securities and Exchange Commission “requested documents and information related to VMware’s backlog and associated accounting and disclosures.” The lawsuit alleges that between March 30, 2019 and February 27, 2020, defendants misled investors by failing to disclose: (1) that VMware’s reporting with respect to its backlog of unfilled orders was not in compliance with all relevant accounting and disclosure requirements; (2) that the foregoing subjected the Company to a foreseeable risk of heightened regulatory scrutiny and/or investigation; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
The Portnoy Law Firm represents investors on a contingency basis in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar