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HF Foods Comments on Shareholder Filings and Upcoming Annual Meeting of Stockholders
HF Foods Proxy Materials Contain the Only Proper Business at the Annual Meeting Stockholders Should Discard Proxy Materials Received from Raymond Ni or
About this update from Hf Foods Group Inc.
[{"type":"text","content":"HF Foods Proxy Materials Contain the Only Proper Business at the Annual Meeting Stockholders Should Discard Proxy Materials Received from Raymond Ni or Affiliates LAS VEGAS, May 08, 2023 (GLOBE NEWSWIRE) -- HF Foods Group Inc. (NASDAQ: HFFG), a leading food distributor to Asian restaurants across the United States (“HF Foods” or the “Company”), today commented on the filing of a preliminary proxy statement on behalf of the Irrevocable Trust for Raymond Ni, Weihui Kwok and Yuanyuan Wu (collectively “Raymond Ni”) and a related Schedule 13D/A with the U.S. Securities and Exchange Commission (the “SEC”) on May 5, 2023. The two filings by Raymond Ni contain various material misstatements, inaccuracies, and omissions, and reflect a fundamental misunderstanding of Delaware corporate law. Among other things, Raymond Ni’s preliminary proxy statement purports to support the election of five individuals as directors at the upcoming combined 2022 & 2023 Annual Meeting of Stockholders of HF Foods (the “Annual Meeting”), none of whom are valid nominees for election to the Board of Directors of the Company for consideration at the Annual Meeting. As previously announced, the deadline for stockholders to make a valid proposal or director nomination for consideration at the Annual Meeting was Monday, April 10, 2023. Raymond Ni’s nomination submission materials, which were first submitted on such date, were materially defective, and as such were invalid, under the Company’s bylaws. The nominating stockholders were informed of this determination on April 11, 2023, and have not challenged or contested that determination publicly or privately with the Company before Raymond Ni’s recent filing of the preliminary proxy statement and related Schedule 13D/A. Accordingly, the only proper business before the Annual Meeting, which is scheduled for Thursday, June 1, 2023, at 12:00 p.m., Eastern Time, is as set out in the Company’s Notice of Annual Meeting of Stockholders and Proxy Statement, dated April 28, 2023 (the “Proxy Statement”). The Company filed the Proxy Statement with the SEC on April 28, 2023, and began mailing copies of the Proxy Statement to stockholders on or around such date. Stockholders should disregard any statements and materials that purport to add, or solicit votes for, additional director nominations or other business to be acted upon...