NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Hanmi Financial Corporation (HAFC) resulting from allegations that Hanmi may have issued materially misleading business information to the investing public.
On January 28, 2020, Hanmi issued a press release announcing the Company’s financial results for the fourth fiscal quarter of 2019. Therein, Hanmi reported net income of $3.1 million for the quarter, which included “a $6.9 million specific provision for loan and lease losses related to [a] previously identified $39.7 million troubled loan relationship.” According to Hanmi’s President and Chief Executive Officer Bonnie Lee, “[w]ith the loans comprising this relationship maturing on December 31, 2019, [Hanmi] received current appraisals on the personal property securing the relationship and ha[s] provided for a specific allowance at the lower range of the appraised values.”
On this news, Hanmi’s stock price fell $1.77 per share, or 9.43%, to close at $16.99 per share on January 29, 2020, injuring investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Hanmi investors. If you purchased shares of Hanmi please visit the firm’s website at http://www.rosenlegal.com/cases-register-1767.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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