LOS ANGELES, May 11, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Hamilton Beach Brands Holding Company ("Hamilton Beach Brands" or the "Company") (NYSE: HBB) investors that the firm has initiated an investigation into possible securities fraud.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com.
On May 11, 2020, Hamilton Beach Brands disclosed 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." The Company also revealed 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 nearly 9%, to close at $10.43 per share on May 11, 2020, on unusually heavy trading volume.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
BH_BH_BH_BH_BH_BH_BH_BH
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