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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of HAFC, BIDU and DNK

NEW YORK, NY / ACCESSWIRE / May 3, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Hanmi Financial Corporation (HAFC)

Investors Affected : August 12, 2019 - January 28, 2020

A class action has commenced on behalf of certain shareholders in Hanmi Financial Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the $40.7 million troubled loan that the Company disclosed on conference calls would necessitate further and future specific provisions for the Company - in the millions; (2) the same $40.7 million troubled loan would necessitate the Company to appraise and take personal property securing a portion of the amount of the loan; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/hanmi-financial-corporation-loss-submission-form/?id=6321&from=1

Baidu, Inc. (BIDU)

Investors Affected : March 16, 2019 - April 7, 2020

A class action has commenced on behalf of certain shareholders in Baidu, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Baidu's feed services were not in compliance with applicable Chinese regulatory standards; (ii) the foregoing noncompliance subjected the Company to a heightened risk of regulatory enforcement, including the removal or suspension of certain of Baidu's services and products; (iii) accordingly, the Company's revenues derived from online marketing services were unlikely to be sustainable; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/baidu-inc-loss-submission-form/?id=6321&from=1

Phoenix Tree Holdings Limited (DNK)

Investors Affected : American Depositary Shares ("ADS") of Phoenix pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company's January 2020 initial public offering.

A class action has commenced on behalf of certain shareholders in Phoenix Tree Holdings Limited. According to the filed complaint, the documents Phoenix Tree issued in connection with its initial public offering ("IPO") omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as the demand in the Chinese residential rental market and the Company's exposure to significant adverse developments resulting from the onset of the coronavirus in China - particularly in Wuhan - at the time of the IPO. After the IPO, reports emerged indicating that Phoenix was experiencing ongoing problems due to the coronavirus, which was causing financial and other harm to tenants.

Shareholders may find more information at https://securitiesclasslaw.com/securities/phoenix-tree-holdings-limited-loss-submission-form/?id=6321&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



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