WELLINGTON, Fla., June 15, 2020 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO” or the “Firm”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action experience, including cases against ENRON and HALLIBURTON) advise investors that a Securities Class Action lawsuit has been filed against Hamilton Beach Brands Holding Company (NYSE: HBB) (the “Company” or “Hamilton”), and encourages shareholders with substantial losses to contact the Firm to discuss the case and their options as class members. The deadline to petition the court to act as a lead plaintiff is July 21, 2020.
The case, Yung-Chih Chen v. Hamilton Beach Brands Holding Company, et al., Case No.: 2:20-cv-02323-SJF-ARL, was filed in the U.S. District Court for the Eastern District of New York on behalf of shareholders who purchased the Company’s securities between February 27, 2020 and May 8, 2020, inclusive (the “Class Period”). The lawsuit alleges that Hamilton and certain of its executives made materially false and misleading statements regarding the Company’s business, operational and compliance policies during the Class Period, causing artificially inflated prices of the Company’s securities. It is alleged, in part, that the Company failed to disclose that it had inadequate disclosure controls and procedures over financial reporting.
On May 11, 2020, the Company announced that it could not file its 1Q20 10-Q because of “certain accounting irregularities…” and further announced that its “[a]udit review committee has commenced an internal investigation” regarding “the realizability of certain assets of the Mexican subsidiary.” Following this news, Hamilton’s stock price fell approximately 9% to close at $10.43 per share on May 11, 2020.
If you purchased shares of Hamilton during the Class Period and would like to discuss the case and your right to recovery for your economic loss, you may, without obligation or cost, contact attorney Anthony Barbuto, at (888) 715-2520, or via email at anthony@barjolaw.com, or attorney Neil Rothstein via email at neil@barjolaw.com. The Firm believes strongly that the choice of a qualified lead plaintiff can have a significant impact on the successful outcome of a case.
Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.
1-888-715-2520
12773 Forest Hill Blvd., 101
Wellington, FL 33414
http://www.barjolaw.com