NEW ORLEANS, June 30, 2017 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind 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.
What You May Do
If you purchased securities of Mattel and would like to discuss your legal rights and how this case might affect your right to recover for your loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at (877) 515-1850 or by email (lewis.kahn@ksfcounsel.com), or visit http://ksfcounsel.com/cases/nasdaq-mat/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by August 28, 2017.
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.
On this news, the price of Mattel’s shares plummeted.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.