PHILADELPHIA--(BUSINESS WIRE)--Kaskela Law LLC announces that it is investigating Hanmi Financial Corporation (“Hanmi” or the “Company”) (NASDAQ: HAFC) on behalf of the Company’s long-term investors. The investigation seeks to determine whether the members of Hanmi’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with alleged corporate misconduct.
Recently an amended shareholder complaint was filed against Hanmi in federal court on behalf of investors who purchased shares of the Company’s common stock between August 9, 2018 and April 30, 2020. According to the complaint, during that time period Hanmi and certain of the Company’s senior executive officers made a series of false and/or misleading statements to investors concerning Hanmi’s financial and operational performance.
As detailed in the complaint, through a series of disclosures made during 2019 and 2020, Hanmi revealed to investors, among other things, that it had taken a $25 million provision for non-performing loans on its books. In response to the Company’s disclosures, shares of Hanmi’s common stock declined in value by approximately 60%, or over $15 per share.
Current Hanmi stockholders who purchased or acquired shares of the Company’s stock prior to January 1, 2020 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/hanmi/ , for additional information about this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation, and has helped recover in excess of $150 million on behalf of victimized investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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