A securities class action has been filed against Hasbro, Inc. (HAS) on behalf of all persons or entities that purchased Hasbro’s common stock between February 7, 2022 through October 25, 2023. This case has been filed in the USDC – SDNY.
According to the lawsuit, during the Class Period, defendants wrongfully represented to investors that Hasbro’s inventory was of a high quality and that the Company was appropriately building up its inventory balances to mitigate supply chain risk and meet consumer demand, especially for the 2022 holiday season. For example, on February 7, 2022, Defendant Thomas claimed that “The inventory we had at year-end is of very high quality.” Throughout the Class Period, Defendants represented that the rising inventory levels reported in the Company’s periodic financial reports filed with the SEC during the Class Period reflected outstanding and anticipated demand, rather than excess supply that outpaced waning demand.