LOS ANGELES--(BUSINESS WIRE)--Los Angeles based law firm, Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased Mattel, Inc. (“Mattel” or the “Company”) (Nasdaq: MAT) securities between October 20, 2016 and April 20, 2017, inclusive (the “Class Period”). Mattel investors have until August 28, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Mattel page on our website at www.glancylaw.com.
Investors suffering losses on their Mattel investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that, throughout the Class Period, Mattel made false and/or misleading statements, and/or failed to disclose adverse information, including that the Company's retail customers had high levels of unsold Mattel products, thus exposing it 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 this news, shares of Mattel declined considerably in value, thereby harming investors according to the Complaint.
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If you purchased shares of Mattel during the Class Period you may move the Court no later than August 28, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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