Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Mattel, Inc (Mattel or the Company) (NASDAQ: MAT) securities between February 7, 2019 and February 15, 2019, inclusive (the Class Period). Mattel investors have until 60 days from the date of this notice to file a lead plaintiff motion.
Investors suffering losses on their Mattel investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
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.
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.
If you purchased shares of Mattel, 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.
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