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SHAREHOLDER ALERT: Khang & Khang LLP Announces Securities Class Action Lawsuit against Mattel, Inc. and Encourages Investors with Losses to Contact the Firm
Thursday, July 6, 2017 7:02 PM
IRVINE, CA / ACCESSWIRE / July 6, 2017 / Khang & Khang LLP (the “Firm”) announces the filing of a class action lawsuit against Mattel, Inc. (“Mattel” or the “Company”) (NASDAQ: MAT). Investors who purchased or otherwise acquired shares between October 20, 2016 and April 20, 2017, inclusive (the “Class Period”), are encouraged to contact the Firm in advance of 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, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone at (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may also choose to take no action and remain a passive class member.
According to the Complaint, 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, thus exposing it to the heightened risk that it would have to issue its retailers financial concessions to remove the excess inventory, and that it 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 more than 158% in its operating loss. These results were well below Wall Street consensus estimates. When this news was announced, shares of Mattel fell in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have questions about this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at [email protected].
This press release may be considered Attorney Advertising in certain jurisdictions.
Joon M. Khang, Esq.
SOURCE: Khang & Khang LLP