NEW ORLEANS, July 14, 2017 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 28, 2017 to file lead plaintiff applications in a securities class action lawsuit against Mattel, Inc. (Nasdaq:MAT), if they purchased the Company’s securities between October 20, 2016 and April 20, 2017, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
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Mattel investors should visit us at https://www.claimsfiler.com/cases/view-mattel-inc-securities-litigation-1 or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Mattel and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 19, 2016, Mattel announced positive results for Q3 2016. However, the Company failed to disclose that it had issued an excessive level of inventory to its retailers which, although temporarily inflating revenue, required the Company to later make significant sales adjustments and discounts to clear the excess product and ultimately resulted in a material negative impact on performance. As a result, on April 20, 2017, Mattel revealed dismal financial results for Q1 2017, well below Wall Street consensus estimates.
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