---
schema_version: "secwatch.filing_event.v1"
accession: "0001680873-23-000016"
form_type: "8-K"
ticker: "HFFG"
cik: "0001680873"
company_name: "HF Foods Group Inc."
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T13:05:27.305985+00:00"
event_type: "litigation"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# HF Foods settles stockholder derivative suit; receives $9.25M from former executives

## Summary
- Settlement of Delaware derivative action; former CEO Zhou Min Ni and former COO Chan Sin Wong to pay $9.25M to company.
- Dismissal with prejudice of all claims against named defendants; court approval required.
- Company to adopt governance changes: separate CEO/Chair, 75% independent directors, annual board training.
- Company expects to file long-form settlement agreement with SEC by May 10, 2023.

## SEC filing metadata
- accession: 0001680873-23-000016
- form_type: 8-K
- ticker: HFFG
- cik: 0001680873
- company_name: HF Foods Group Inc.
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: litigation
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 3.03, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1680873/000168087323000016/0001680873-23-000016-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1680873/000168087323000016/hffg-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001680873-23-000016
- JSON: https://secwatch.observer/filing/0001680873-23-000016.json
- Plain text: https://secwatch.observer/filing/0001680873-23-000016.txt

## Key facts
- Governance Changes
  HF Foods Group Inc.: Amended Bylaws to modify committee procedures and add procedural requirements for stockholder action by written consent (effective 2023-04-25).
  - Change: bylaw amendment
  - Effective: 2023-04-25
  source text: On April 25, 2023, the Board of Directors (the “Board”) of HF Foods Group Inc., a Delaware corporation (the “Company”), approved certain amendments (the “Amendment”) to the Company’s Amended and Restated Bylaws (the “Bylaws”), effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1680873/000168087323000016/0001680873-23-000016-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.