BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Mattel, Inc. investors (“Mattel” or the “Company”) (NASDAQ: MAT) concerning the Company and its officers’ possible violations of federal securities laws.
On February 15, 2019, Mattel announced it would downgrade its 2019 forecast, reporting slowing demand for its Barbie doll. Reuters published an article on the company’s adjusted forecast stating that it came “barely a week after the company said strong holiday sales of Barbie drove a surprise fourth quarter profit.” The Wall Street Journal also published an article on Mattel’s adjusted outlook, noting “Mattel’s decision to announce an adjusted outlook just a week after earnings is bizarre,” and further stating “[M]attel isn’t as healthy as it made out. Management should have been candid about that when it reported earnings instead of letting investors get unjustly excited.” On this news, Mattel’s share price fell by more than 18%, closing at $13.82 on February 15, 2019, thereby injuring investors.
If you purchased Mattel securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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