LOS ANGELES, CA / ACCESSWIRE / June 8, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hamilton Beach Brands Holding Company ("Hamilton Beach" or "the Company") (NYSE:HBB) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hamilton Beach announced on May 11, 2020, that it would fail to file its quarterly report for the first quarter 2020 in a timely manner. The Company stated that the delay was caused by "certain accounting irregularities with respect to the timing of recognition of selling and marketing expenses and the classification of certain expenditures within the statement of operations at its Mexican subsidiary." The Company added that its "Audit Review Committee has commenced an internal investigation," focusing on "the realizability of certain assets of the Mexican subsidiary." Based on this news, shares of Hamilton Beach fell by almost 9% on the same day.
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The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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SOURCE: The Schall Law Firm
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