A lawsuit was filed on behalf of investors in Mattel, Inc. (NASDAQ: MAT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 01/29/2020 -- An investor, who purchased shares of Mattel, Inc. (NASDAQ: MAT), filed a lawsuit i over alleged violations of Federal Securities Laws by Mattel, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Mattel, Inc. (NASDAQ: MAT) have certain options and for certain investors are short and strict deadlines running. Deadline: February 24, 2020. NASDAQ: MAT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 8, 2019, Mattel, Inc. announced that its outside auditor had received a whistleblower letter alleging certain improprieties in the company's accounting practices—resulting in the sudden termination Mattel's scheduled Senior Note Offering.
On October 29, 2019, Mattel, Inc. reported the results of its investigation into the whistleblower allegations. Among other things, Mattel acknowledged that it had committed certain accounting errors and amended the Company's 2018 Form 10-K to restate the last two quarters of 2017. Mattel, Inc. also admitted to weaknesses in its internal controls and violations of auditor independence rules.
The plaintiff alleges on behalf of purchasers of Mattel, Inc. (NASDAQ: MAT) common shares between October 26, 2017 and August 9, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Mattel, Inc. misled investors regarding its financial accounting in the last two quarters of 2017, as well as the efficacy of its internal controls.
Those who purchased shares of Mattel, Inc. (NASDAQ: MAT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.