Cases & investigations

Cases & investigations

Hanmi Financial Corporation

Kaskela Law LLC is investigating Hanmi Financial Corporation (“Hanmi” or the “Company”) (NASDAQ: HAFC) on behalf of the Company’s long-term investors.

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 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.

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 the above alleged misconduct.

Current Hanmi stockholders who purchased or acquired HAFC shares prior to January 1, 2020 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 – 0750, or by completing the information form on this page, for additional information about this investigation and their legal rights and options.

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