Mattel, Inc.
Company Name | Mattel, Inc. |
Stock Symbol | MAT |
Class Period | February 07, 2019 to February 15, 2019 |
Lead Plaintiff Motion Deadline | May 06, 2019 |
Court | USDC Central District of California |
On February 15, 2019, the Company provided disappointing outlook for 2019, citing slowing growth in sales of Barbie and Hot Wheels. On this news, the Company’s share price fell $3.09 per share, more than 18%, to close at $13.82 per share on February 15, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to
disclose to investors: (1) that demand for the Company’s products, including Barbie and Hot Wheels, was declining; (2) that the Company had an excess of product supply; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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