PHILADELPHIA, May 13, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating securities claims on behalf of shareholders of Hamilton Beach Brands Holding Co. (“Hamilton Beach” or the “Company”) (: HBB).
Hamilton Beach Discovers Certain Accounting Irregularities
On May 11, 2020, Hamilton Beach announced that it “discovered 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 also disclosed that its “Audit Review Committee has commenced an internal investigation, with the assistance of outside counsel and other third-party experts, which is primarily focused on realizability of certain assets of the Mexican subsidiary in order to determine the impact these matters may have on the Company’s financial results.”
On this news, shares of Hamilton Beach stock dropped by approximately 9% to close at $10.43 per share.
Hamilton Beach investors who purchased, or otherwise acquired, HBB common stock and suffered financial losses greater than $100K are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire, contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, or e-mail [email protected].
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
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