The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Hasbro, Inc. (NASDAQGS: HAS) who purchased shares between April 24, 2017 and October 23, 2017. The action, which was filed in the United States District Court for the District of Rhode Island, alleges that the Company violated federal securities laws.
In particular, the Hasbro lawsuit alleges that (1) Hasbro’s relationship with Toys “R” Us was becoming increasingly important to Hasbro’s business, as Toys “R” Us was the primary retail brick-and-mortar toy store in the United States; (2) Toys “R” Us was in far worse financial condition than was being publicly reported and it would have to dramatically scale back its operations or file for bankruptcy and liquidate; and (3) Hasbro was experiencing significant adverse sales issues in the key markets of the United Kingdom and Brazil which were negatively impacting the Company’s efforts to grow sales in those markets.
Shareholders have until November 27, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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