Class Action Lawsuit Filed Against Hanmi Financial Corporation On Behalf of HAFC Investors Who Purchased, Or Otherwise Acquired, Hanmi Financial Stock Between August 12, 2019 and January 28, 2020, Both Dates Inclusive – HAFC Investors Who Suffered Losses Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors aware that on March 26, 2020, a class action lawsuit was filed in United States District Court, Central District of California, against Hanmi Financial Corporation (“Hanmi Financial” or the “Company”) (NasdaqGS: HAFC) on behalf of all persons and entities, other than Defendants, who purchased, or otherwise acquired, the publicly-traded securities of Hanmi Financial between August 12, 2019 and January 28, 2020, both dates inclusive (the “Class Period”).
The Plaintiff seeks to recover compensable damages caused by the Hanmi Financial Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
According to the class action complaint, the Hanmi Financial Defendants made materially false and/or misleading, because they misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operational and financial results, which were known to the Hanmi Financial Defendants or recklessly disregarded by them. Specifically, the Hanmi Financial Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (1) the specified $40.7 million troubled loan would necessitate further and future specific provisions for the Company – in the millions; (2) the specified $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, the Hanmi Financial Defendants’ public statements were materially false and misleading at all relevant times.
Hanmi Financial investors who purchased, or otherwise acquired, HAFC securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.