INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against Hanmi Financial Corporation and Encourages Investors with Losses to Contact the Firm

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Hanmi Financial Corporation (“Hanmi” or “the Company”) (NASDAQ: HAFC) 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. Hanmi issued a press release on January 28, 2020, announcing the Company’s financial results for the fourth quarter of fiscal year 2019. The Company reported net income of $3.1 million, including “a $6.9 million specific provision for loan and lease losses related to [a] previously identified $39.7 million troubled loan relationship.” President and CEO Bonnie Lee said, “With 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.” Based on this news, shares of Hanmi fell by more than 9.4% the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [e-mail].

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.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.