Mattel, Inc. (NASDAQ: MAT) Investor Securities Class Action Lawsuit 12/24/2019

If you purchased a significant amount of shares of Mattel, Inc. (NASDAQ: MAT) between October 26, 2017 and August 9, 2019, and / or if you purchased any NASDAQ: MAT shares prior to October 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: February 24, 2020. 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 12/24/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: MAT
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/24/2019
Class Period Begin: 
10/26/2017
Class Period End: 
08/09/2019
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
02/24/2020
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 October 26, 2017 and August 9, 2019.

On August 8, 2019, Mattel, Inc. announced that its outside auditor had received a whistleblower letter alleging certain improprieties in the company’s accounting practices—resulting in the sudden termination Mattel’s scheduled Senior Note Offering.

On October 29, 2019, Mattel, Inc. reported the results of its investigation into the whistleblower allegations. Among other things, Mattel acknowledged that it had committed certain accounting errors and amended the Company’s 2018 Form 10-K to restate the last two quarters of 2017. Mattel, Inc. also admitted to weaknesses in its internal controls and violations of auditor independence rules.

Shares of Mattel, Inc. (NASDAQ: MAT) declined to as low as $9.06 per share on August 28, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Mattel, Inc. (NASDAQ: MAT) common shares between October 26, 2017 and August 9, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Mattel, Inc. misled investors regarding its financial accounting in the last two quarters of 2017, as well as the efficacy of its internal controls.