Home Business Briefs Class Action Suit Accuses Mattel of Misleading Shareholders

Class Action Suit Accuses Mattel of Misleading Shareholders

69
0

A class action lawsuit has been filed in US District Court against Mattel. The suit is accusing the company of misleading shareholders as to the declining demand for Barbie, Hot Wheels and other products.

This is related to a February announcement that sales would be flat in 2019, and that sales of Barbie and Hot Wheels would not reach 2018 levels. The plaintiffs claim this contradicted earlier statements by the company.