The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Mattel, Inc. (NASDAQ : MAT) securities between October 20, 2016 and April 20, 2017.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) prior to and during the Class Period, Mattel’s retail customers were loaded with extremely high levels of unsold Mattel product and, as a consequence, (2) Mattel was exposed to the heightened risk that it would have to issue its retailers financial concessions (in the form of sales adjustments, discounts and promotions) to remove such excess inventory, and (3) Mattel also faced a heightened risk that it would experience slower sales growth in future periods.
If you suffered a loss in Mattel, Inc. you have until August 28, 2017 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.
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