NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Hanmi Financial Corporation (NASDAQ:HAFC) on behalf of Hanmi stockholders. Our investigation concerns whether Hanmi has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 28, 2020, Hanmi released its financial results for the fourth fiscal quarter of 2019, reporting a net income of $3.1 million for the quarter. However, this 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 purchased or otherwise acquired Hanmi shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.