Mattel, Inc. Securities Litigation (2019)

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Lawsuit Overview

Defendant:Mattel, Inc.
Date Filed:December 24th, 2019
Sector:Consumer Non-Durables
Industry:Recreational Products/Toys
Class Start Date:August 2nd, 2017
Class End Date:August 8th, 2019

According to the Complaint, Mattel designs, manufactures, and markets a range of toy products worldwide. Its portfolio of brands and products include such household names as FisherPrice, Barbie, Hot Wheels, Matchbox, Masters of the Universe, American Girl and Thomas & Friends. The Company purports to be the owner of one of the strongest portfolios of toy brands in the world with vast intellectual property potential.

On October 26, 2017, Mattel filed its financial report for the third quarter of 2017 with the U.S. Securities and Exchange Commission. The Complaint alleges statements in the financial report were materially false and misleading and failed to disclose material adverse facts about the Company's business, operations, and prospects. The Complaint further alleges that the Defendants misled investors by reporting a net loss of $603.3 million for the third quarter which was understated by $109 million due to inappropriately calculating its tax valuation allowance.
 

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First Identified Complaint

Houston Municipal Employees Pension System, et al. v. Mattel, Inc., et al.

Date Filed:December 24th, 2019
Class Period Start:August 2nd, 2017
Class Period End:August 8th, 2019
First Identified Complaint Filings
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