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IRVINE, Calif., Aug. 10, 2017 -- Khang & Khang LLP (the “Firm”) announces a securities class action lawsuit against Mattel, Inc. (“Mattel” or the “Company”) (Nasdaq:MAT). Investors who purchased or otherwise acquired Mattel shares from October 20, 2016 through April 20, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm before the August 28, 2017 lead plaintiff motion deadline.
If you purchased Mattel shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet, and until certification occurs, you are not represented by an attorney. You may also choose to take no action and remain a passive class member.
The Complaint alleges that during the Class Period, Mattel made false and/or misleading statements, and/or failed to disclose adverse information, including that the Company’s retail customers had high levels of unsold Mattel products, which exposed it to the heightened risk that it would have to issue its retailers financial concessions to remove the excess inventory, and that the Company would experience slower sales growth in future periods. On April 20, 2017, Mattel announced its first quarter 2017 financial results, reporting declines for its worldwide net sales and gross margins on a year-over-year basis, and an increase of over 158% in its operating loss. These results were much lower than Wall Street consensus estimates. When this news was announced to the public, Mattel’s stock price dropped materially, which caused investors harm according to the Complaint.
If you want to learn more about this lawsuit, or if you have any questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone at (949) 419-3834, or via e-mail at [email protected].
This press release may be considered Attorney Advertising in certain jurisdictions.
Contact Joon M. Khang, Esq. Telephone: 949-419-3834 Facsimile: 949-225-4474 [email protected]
