San Diego, CA -- (SBWIRE) -- 09/07/2022 -- The Shareholders Foundation announced an update in the lawsuit that was filed for certain investors in shares of Hanmi Financial Corporation (NASDAQ: HAFC)

If you purchased shares of Hanmi Financial Corporation (NASDAQ: HAFC), you have certain options should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 26, 2020, a lawsuit was filed against Hanmi Financial Corporation over alleged violations of Federal Securities Laws. The plaintiff alleged that, the defendants made false and/or misleading statements and/or failed to disclose that the specified $40.7 million troubled loan would necessitate further and future specific provisions for the Company – in the millions, that 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 that 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.

On September 17, 2020, an amended Complaint was filed and on November 2, 2020, the Defendants filed a Motion to Dismiss the amended Complaint.

On March 17, 2021, the Court issued an Order granting Defendants' Motion to Dismiss but gave leave to amend the complaint.

On April 6, 2021, a second amended Complaint was filed and on May 21, 2021, the Defendants filed a Motion to Dismiss the second amended Complaint.

On August 15, 2022, the Court issued an Order denying Defendants' Motion to Dismiss.

Those who purchased shares of Hanmi Financial Corporation (NASDAQ: HAFC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.