Mattel, Inc. (NASDAQ: MAT) Investor Securities Class Action Lawsuit 03/06/2019

If you purchased a significant amount of shares of Mattel, Inc. (NASDAQ: MAT) between February 7, 2019 and February 15, 2019, and / or if you purchased any NASDAQ: MAT shares prior to February 2019 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: May 6, 2019. NASDAQ: MAT investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Mattel
Case Name: 
Mattel Shareholder Class Action Lawsuit 03/06/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: MAT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/06/2019
Class Period Begin: 
02/07/2019
Class Period End: 
02/15/2019
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
05/06/2019
Summary: 

An investor in shares of Mattel, Inc. (NASDAQ: MAT) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Mattel, Inc. in connection with certain allegedly false and misleading statements made between February 7, 2019 and February 15, 2019.

El Segundo, CA based Mattel, Inc. designs, manufactures, and markets a range of toy products worldwide. Mattel, Inc. reported that its annual Total Revenue declined from over $4.88 billion in 2017 to over $4.51 billion in 2018 and that its Net Loss declined from over $1.05 billion in 2017 to $531 million in 2018.

On February 15, 2019, Mattel, Inc. provided disappointing outlook for 2019, citing slowing growth in sales of Barbie and Hot Wheels. Shares of Mattel, Inc. (NASDAQ: MAT) declined from $17.23 per share on February 13, 2019 to as low as $12.45 per share on February 19, 2019.

On March 6, 2019, NASDAQ: MAT shares closed at $14.56 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Mattel, Inc. (NASDAQ: MAT) common shares between February 7, 2019 and February 15, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 7, 2019 and February 15, 2019, the defendants failed to disclose to investors that demand for the Company’s products, including Barbie and Hot Wheels, was declining, that the Company had an excess of product supply, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.