Public

On November 7, 2022, Huadi International Group (HUDI) shares dropped 91% after an announcement about sale of its stock to investors at $25 per share - an 86% discount to previous closing price. 

Investors have grounds to suspect stock price manipulation, insider trading and breach of fiduciary duties by one or several involved parties.

Huadi International Group Co Ltd

Attorney Investigation

Price manipulation

Insider Trading

Breach of Fiduciary duty

Omissions

Directors

Management

Shareholder

Investment Bank

Service Provider

Hedge Fund

Stocks

Long

Huadi International Group Co., Ltd. develops, manufactures, markets, and sells industrial stainless steel seamless pipes, tubes, bars, and plates in the People's Republic of China. It sells auto parts and components. The company's products are used in thermal, nuclear power plants, automotive, oil and gas, agricultural, industrial equipment, chemical engineering, and electricity sectors. It exports its products to 20 countries, including the United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, the United Arab Emirates, Canada, and internationally. The company was founded in 1998 and is based in Wenzhou, the People's Republic of China. Huadi International Group Co., Ltd. is a subsidiary of Yongqiang Donghai Limited.

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