SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation of Hanmi Financial Corporation (HAFC) and Encourages Long-Term HAFC Stockholders to Contact the Firm

PHILADELPHIA, Aug 31, 2022 /PRNewswire/ -- Kaskela Law LLC announces that it 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 email ([email protected]) or online at https://kaskelalaw.com/cases/hanmi/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation, and has helped recover in excess of $100 million on behalf of victimized investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.  This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

SOURCE Kaskela Law LLC

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