NEW YORK, March 12, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Mattel, Inc. (“Mattel” or the “Company”) (MAT) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Mattel securities during the period between February 7, 2019 and February 15, 2019, (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/mat.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) demand for the Company’s products, including Barbie and Hot Wheels, was declining; (2) Mattel had an excess of product supply; and (3) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
On February 15, 2019, Mattel revealed a disappointing outlook for 2019, mentioning a decrease in sales of Barbie and Hot Wheels. Following this news, Mattel stock dropped $3.09 per share, or over 18%, to close at $13.82 on February 15, 2019.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/mat or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Mattel you have until May 6, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com