Lead Plaintiff Deadline: 02/24/2020
SUMMARY OF CASE:
A securities class action has been filed against Mattel, Inc. (MAT) on behalf of purchasers of the securities of Mattel between October 26, 2017 through August 8, 2019. This case has been filed in the USDC – CDCal.
The Complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Mattel had inadequate systems of internal disclosure and financial controls; (2) Mattel would need to amend its 2018 annual report on Form 10-K to restate the Company’s financial results for the third and fourth quarters of 2017; and (3) as a result of the foregoing, defendants’ statements about its business and operations were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.