NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Hamilton Beach Brands Holding Company (NYSE: HBB) resulting from allegations that Hamilton Beach Brands may have issued materially misleading business information to the investing public.
On May 11, 2020, Hamilton Beach Brands announced that it could not timely file its first quarter 2020 quarterly report due to “certain accounting irregularities with respect to the timing of recognition of selling and marketing expenses and the classification of certain expenditures within the statement of operations at its Mexican subsidiary.” Hamilton Beach Brands further stated that its “Audit Review Committee has commenced an internal investigation” regarding “the realizability of certain assets of the Mexican subsidiary.”
On this news, the Company’s share price fell $1.03, or almost 9%, to close at $10.43 per share on May 11, 2020, damaging investors.
Rosen Law Firm is preparing a securities lawsuit on behalf of Hamilton Beach Brands shareholders. If you purchased securities of Hamilton Beach Brands please visit the firm’s website at http://www.rosenlegal.com/cases-register-1856.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
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New York, NY 10016
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