Law Offices of Howard G. Smith 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.
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 securities, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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