Glancy Prongay & Murray LLP (GPM) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California, captioned Wyatt v. Mattel, Inc. et al., (Case No. 2:19-cv-01646), on behalf of persons and entities that purchased or otherwise acquired Mattel, Inc. (NASDAQ: MAT) (Mattel or the Company) securities between February 7, 2019 and February 15, 2019, inclusive (the Class Period). Plaintiff pursues claims under the Securities Exchange Act of 1934 (the Exchange Act).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
If you are a shareholder who suffered a loss, click here to participate.
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, the Company provided disappointing outlook for 2019, citing slowing growth in sales of Barbie and Hot Wheels. On this news, the Companys share price fell $3.09 per share, more than 18%, to close at $13.82 per share on February 15, 2019, thereby injuring investors.
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The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that demand for the Companys products, including Barbie and Hot Wheels, was declining; (2) that the Company had an excess of product supply; and (3) that, as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
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If you purchased Mattel securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. 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, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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