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Mattel, Inc.

Case Summary

Mattel, Inc. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 10/01/2020 (Date of last review)

Filing Date: December 24, 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.

On April 20, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on May 29.

Company & Securities Information

Defendant: Mattel, Inc.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Recreational Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MAT
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

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

COURT: C.D. California
DOCKET #: 19-CV-10860
JUDGE: Hon. Andre Birotte Jr.
DATE FILED: 12/24/2019
CLASS PERIOD START: 10/26/2017
CLASS PERIOD END: 08/09/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP (Boston)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 12/24/2019
2 Order Appointing DeKalb County Employees Retirement System and New Orleans Employees’ Retirement System as Lead Plaintiff, and Approving Their Selection of Lead Counsel, and Consolidating Related Actions 04/20/2020
3 U.S. District Court Civil Docket 05/01/2020

Reference Complaint

In re Mattel, Inc. Securities Litigation

COURT: C.D. California
DOCKET #: 19-CV-10860
JUDGE: Hon. Andre Birotte Jr.
DATE FILED: 05/29/2020
CLASS PERIOD START: 08/02/2017
CLASS PERIOD END: 08/08/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossman LLP (LA)
  2. Block & Leviton LLP (Boston)
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended Class Action Complaint for Violations of the Federal Securities Laws 05/29/2020
2 U.S. District Court Civil Docket 10/01/2020

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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