Company Website:
https://www.classlawgroup.com/mattel-securities-lawsuit/
OAKLAND, Calif. -- (Business Wire)
Gibbs Law Group is investigating claims on behalf of investors of
Mattel, Inc. (NASDAQ: MAT) involving possible securities law violations.
Specifically, our investigation focuses on allegations that Mattel and
certain of its officers and/or directors may have engaged in unlawful
business practices or securities fraud.
To speak with an attorney regarding the Mattel class action lawsuit
investigation, click
here.
On February 7, 2018, Mattel released its fourth quarter 2018 earnings,
beating analyst expectations and sales predictions. On an investor
conference call, CEO Ynon Kreiz stated “2018 was a great year for
Barbie, which sustained growth and continued momentum globally…We look
forward to celebrating her 60th anniversary throughout 2019…”
Eight days later, on February 15, 2019 during an analyst meeting, Mattel
announced it would downgrade its 2019 forecast, reporting a slowing
demand for its Barbie doll. Reuters published an article on the
company’s adjusted forecast noting 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.”
Following this news, shares of MAT dropped by more than 18% to close at
$13.82 on February 15, 2019, which was reported to be the worst one-day
decline for the company in a decade.
If you purchased or acquired shares of Mattel, Inc. you may be able to
recover your losses. To speak privately with a securities attorney to
learn more about our investigation and your legal rights, visit our website
or contact our securities team directly at (800) 808-5294.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors in securities
litigation to correct abusive corporate governance practices,
breaches of fiduciary duty, and proxy violations. The firm has recovered
over a billion dollars for its clients against some of the world’s
largest corporations, and our attorneys have received numerous honors
for their work, including “Best Lawyers in America,” “Top Plaintiff
Lawyers in California,” “Top Class Action Attorneys Under 40,” “Consumer
Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
This press release may constitute Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190215005593/en/
Contacts:
Eileen Epstein
Phone: 510.350.9728
Email: eje@classlawgroup.com
Source: Gibbs Law Group
© 2024 Canjex Publishing Ltd. All rights reserved.