Hamilton Beach Brands Holding Company (HBB)


Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 Investing In Hamilton Beach Brands Holding Company To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Hamilton Beach Brands Holding Company ("Hamilton" or the "Company")(NYSE:HBB) of the July 21, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Hamilton stock or options between February 27, 2020 and May 8, 2020 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Hamilton securities between February 27, 2020 and May 8, 2020 (the "Class Period"). The case, Chen v. Hamilton Beach Brands Holding Company et. al., No. 20-cv-02323 was filed on May 22, 2020, and has been assigned to Judge Sandra J. Feuerstein.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Hamilton had inadequate disclosure controls and procedures and internal control over financial reporting, particularly with respect to one of its Mexican subsidiaries; (2) consequently, the Company’s accounting included certain 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 this Mexican subsidiary, as well as potential misconduct with respect to the realizability of certain assets of the Mexican subsidiary; (3) as a result of all the foregoing, Hamilton could not accurately attest to its financial results, particularly with respect to these metrics, and was consequently at an increased risk of delaying the filing of its periodic reports with the SEC; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 11, 2020, Hamilton announced that it could not timely file its 10-Q for the first quarter of the 2020 fiscal year citing "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 further stated that its Audit Review Committee had “commenced an internal investigation" regarding "the realizability of certain assets of the Mexican subsidiary."

On this news, Hamilton's share price fell from $11.46 per share on May 8, 2020 to a closing price of $10.43 on May 11, 2020: a $1.03 or 8.99% drop.

Contact us

Hamilton Beach Brands Holding Company (HBB)

Loading captcha, please wait...

* The submission of this form does not create an attorney-client relationship.

Details

Filed on 05/26/2020

Ticker NYSE:HBB

Lead Plaintiff Deadline 07/21/2020

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Richard W. Gonnello rgonnello@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

Finding us

Our Offices


Our offices are nationwide. If you have any questions about a case or our firm, please contact us.

New York

685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

California

10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Wilmington, Delaware

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania