BOSTON, July 08, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that securities class action have been filed against Hamilton Beach Brands Holding Company (NYSE: HBB), Hebron Technology Co., Ltd. (NASDAQ: HEBT), and Chembio Diagnostics, Inc (NASDAQ: CEMI). Shareholders interested in serving as lead plaintiff have until the deadlines listed below to move the court. Further details about the cases are described below. There is no cost or obligation to you.

HBB Shareholders – Click Here: https://shareholder.law/hbb

HEBT Shareholders – Click Here: https://shareholder.law/hebt/

CEMI Shareholders – Click Here: https://shareholder.law/chembio/

Hamilton Beach Brands Holding Company (NYSE: HBB) – Lead Plaintiff Deadline of July 21, 2020

On May 11, 2020, Hamilton Beach Brands disclosed that it could not timely file its first quarter 2020 quarterly financial 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.” In addition, the Company stated that its “Audit Review Committee has commenced an internal investigation, with the assistance of outside counsel and other third party experts,” concerning “the realizability of certain assets of the Mexican subsidiary.” On this news, shares of Hamilton Beach Brands common stock fell by approximately 9%, or $1.03 per share, to close at just $10.43 per share on unusually heavy trading volume.

Hebron Technology Co., Ltd. (NASDAQ: HEBT) – Lead Plaintiff Deadline of August 10, 2020

On June 3, 2020, analyst Grizzly Research published a scathing report alleging that China-based Hebron Technology is an “insider enrichment scheme without economic basis.” In its report, Grizzly Research cited questionable transactions including an undisclosed related-party transaction of nearly $26 million. The report further stated “we believe HEBT is a stock manipulation scheme that engaged in undisclosed related party acquisitions and undisclosed private placement transactions that have artificially inflated the stock price.” On the publication of the Grizzly Research report, shares of HEBT fell from their June 2, 2020 closing price of $22.55 per share to a June 4, 2020 close of $11.78 per share, a drop of approximately 48%.

Chembio Diagnostics, Inc. (NASDAQ: CEMI) – Lead Plaintiff Deadline of August 17, 2020

In April 2020, Chembio’s Dual Path Platform COVID-19 antibody test was among the first such tests to be granted Emergency Use Authorization by the U.S. Food and Drug Administration. However, after the markets closed on June 16, 2020, the FDA issued a press release in which it announced that it had revoked the Emergency Use Authorization for Chembio’s Dual Path Platform antibody test “due to performance concerns with the accuracy of the test,” a determination that its “benefits no longer outweigh its risks,” and “a higher than expected rate of false results.” On this news, the price of Chembio stock fell $6.04 per share, approximately 61%, to close at $3.89 per share on June 17, 2020.

If you purchased or acquired shares of HBB, HEBT, or CEMI and have questions about your legal rights or possess information relevant to these matters, please contact Block & Leviton attorneys at (617) 398-5600, via email at cases@blockesq.com, or via the links provided above.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.

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Phone: (617) 398-5600
Email: cases@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com