Glancy Prongay & Murray LLP (GPM) 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.
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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, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
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 companys 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 Mattels adjusted outlook, noting Mattels decision to announce an adjusted outlook just a week after earnings is bizarre, and further stating [M]attel isnt 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, Mattels share price fell by more than 18%, closing at $13.82 on February 15, 2019, thereby injuring investors.
If you purchased Mattel stock, 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 Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9244, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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