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Case Status:    DISMISSED    
On or around 09/28/2020 (Court's order of dismissal)

Filing Date: May 22, 2020

According to the Complaint, Hamilton Beach Brands Holding Co., together with its subsidiaries, designs, markets, and distributes small electric household and specialty housewares appliances. The Company sells its products through a network of mass merchandisers, e-commerce retailers, national department stores, variety and drug store chains, specialty home retailers, distributors, and other retail outlets.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Hamilton’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors that: (i) Hamilton had inadequate disclosure controls and procedures and internal control over financial reporting, particularly with respect to one of its Mexican subsidiaries; (ii) 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; (iii) 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 (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on September 25, 2020.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Appliance & Tool
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: HBB
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 20-CV-02323
JUDGE:
DATE FILED: 05/22/2020
CLASS PERIOD START: 02/27/2020
CLASS PERIOD END: 05/08/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
  2. Portnoy Law Firm
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available