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INVESTOR ALERT: Tostrud Law Group, PC Announces Investigation of Hanmi Financial Corporation (HAFC) on Behalf of Investors

March 6, 2020 GMT

LOS ANGELES--(BUSINESS WIRE)--Mar 6, 2020--

Tostrud Law Group, PC announces an investigation on behalf of Hanmi Financial Corporation (“Hanmi” or the “Company”) (NASDAQ: HAFC ) investors concerning the Company and its officers’ possible violations of federal securities laws.

On January 28, 2020, Hanmi issued a press release announcing the Company’s financial results for the 2019 fiscal fourth quarter. Therein, Hanmi reported net income of $3.1 million for fourth quarter 2019, which 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, the Company’s share price fell $1.77, or over 9%, to close at $16.99 per share on January 29, 2020, on usually heavy trading volume.

If you purchased Hanmi securities, have information or 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 Jon A. Tostrud of Tostrud Law Group, PC by telephone at (310) 278-2600, toll-free at (855) 854-8678, or by email to shareholder@tostrudlaw.com, or visit our website at http://tostrudlaw.com/.

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

View source version on businesswire.com:https://www.businesswire.com/news/home/20200306005421/en/

CONTACT: Tostrud Law Group, PC

Jon A. Tostrud, Esquire

1925 Century Park East, Suite 2100

Los Angeles, CA 90067

310-278-2600

855-854-8678

shareholder@tostrudlaw.com

http://tostrudlaw.com/

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Tostrud Law Group, PC

Copyright Business Wire 2020.

PUB: 03/06/2020 01:00 PM/DISC: 03/06/2020 01:01 PM

http://www.businesswire.com/news/home/20200306005421/en