Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Hanmi Financial Corporation (HFAC)

NEW YORK, March 27, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Hanmi Financial Corporation (“Hanmi” or the “Company”) (NASDAQ: HAFC) in the United States District Court for the Central District of California on behalf of those who purchased or acquired the securities of Hanmi between August 12, 2019 and January 28, 2020, inclusive (the “Class Period”).  The lawsuit seeks to recover damages for Hanmi investors under the federal securities laws.

The Complaint alleges that Defendants 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, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of Hanmi during the Class Period should contact the Firm prior to the May 26, 2020 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

Please visit our website at http://www.gme-law.com for more information about the firm.