LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Mattel, Inc. (“Mattel” or the “Company”) (Nasdaq: MAT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between October 20, 2016 and April 20, 2017, inclusive (the “Class Period”), are encouraged to contact the firm before August 28, 2017, the lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
We also encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at firstname.lastname@example.org.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Mattel made false and/or misleading statements, and/or failed to disclose adverse information, about its business and prospects, which kept its stock price artificially inflated. Specifically, the Company’s retail customers had high levels of unsold Mattel products, thus exposing the Company to the heightened risk that it would have to issue its retailers financial concessions to remove the excess inventory, and that it would experience slower sales growth in future periods. On April 20, 2017, after market close, Mattel announced its first quarter 2017 financial results, reporting declines for its worldwide net sales and gross margins on a year-over-year basis, and an increase of more than 158% in its operating loss. These results were well below Wall Street consensus estimates. Following this news, Mattel’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents investors around the world, and specializes in securities class action lawsuits and shareholder rights litigation.
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