Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Central District of California on behalf of shareholders of Mattel, Inc. who purchased shares between October 26, 2017 and August 8, 2019.
Mattel and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 8, 2019, the Company disclosed an internal investigation resulting from a whistleblower letter that had been sent to its outside auditors alleging accounting errors in previous quarters and questioning the auditors’ independence.
On this news, the price of Mattel’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until February 24, 2020 to request that the court appoint them lead plaintiff.