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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.
According to the Hasbro, Inc. Each non-employee director who served on the board before May 13, 2003 (and who was otherwise ineligible for benefits under the Company’s Pension Plan), has reached the age of sixty-five and completed five years of service on the board, is entitled to receive, starting at the age of seventy-two, an annual benefit equal to the annual retainer paid to directors during the year in which the director retired (the “Retirement Plan”), which is unfunded (which does not include the fees paid to directors for attendance at meetings). The annual benefit is paid for the rest of the director’s life if they retire on or after their 72nd birthday.
Hasbro Inc. is a multinational play and entertainment corporation that uses immersive storytelling to sell its brands on various platforms, such as television, film, digital, and more. Wal-Mart Stores, Inc., Toys “R” Us, Inc., and Target Corporation are Hasbro’s largest clients, contributing roughly 18%, 9%, and 9% of its consolidated net revenues in fiscal year 2016, respectively. Toys “R” Us filed for bankruptcy on September 19, 2017.
The Chair of the Nominating, Governance and Social Responsibility Committee presides over the Company’s Board of Directors’ executive meetings. Send correspondence to Hasbro, Inc., P.O. Box 495, Pawtucket, Rhode Island 02860, c/o Chair of the Nominating, Governance and Social Responsibility Committee, if you are interested in getting in touch with the presiding non-management director. The presiding non-management director is the channel through which anyone can communicate with the entire Board of Directors.
The goal of the Hasbro, Inc. 2004 Senior Management Annual Performance Plan (the “Plan”) is to advance the interests of Hasbro, Inc. (the “Company”) and its shareholders by incentivizing participating senior executive officers to make significant contributions to the company’s performance and to recognize exceptional performance on the part of those people whose decisions and actions have the greatest impact on the company’s expansion, profitability, and market share.
In response to a lawsuit filed by the widow of toy inventor Bill Markham, who claimed her husband was denied the legacy of The Game of Life as its true creator and lost $2 million in royalties as a result, a federal judge in Los Angeles gave that answer on Friday for Pawtucket, Rhode Island, toy company Hasbro Inc., according to The Providence Journal.
For the first half of 2015, net earnings and net earnings attributable to Hasbro, Inc. were $66,103 and $68,476, respectively, as opposed to $64,334 and $65,562 for the same period in 2014. Hasbro, Inc.’s diluted earnings per share climbed from $0.50 in 2014 to $0.54 in 2015. A beneficial settlement of several open tax years during the first quarter of 2014 considerably offset an unfavorable tax adjustment relating to a planned resolution of unresolved tax concerns during the second quarter of 2014.
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