Hanmi Financial Corporation (HAFC)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Hanmi Financial Corporation (HAFC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Hanmi Financial Corporation (“Hanmi” or the Company”) (NASDAQ: HAFC). The investigation concerns whether Hanmi and certain of its officers and/or directors have violated federal securities laws.
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.
If you are aware of any facts relating to this investigation, or purchased Hanmi shares, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.