The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Mattel, Inc. (NASDAQ: MAT) who purchased shares between October 20, 2016 and April 20, 2017. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that (1) prior to and during the Class Period, Mattel’s retail customers were loaded with extremely high levels of unsold Mattel product and, as a consequence, (2) Mattel was exposed to the heightened risk that it would have to issue its retailers financial concessions (in the form of sales adjustments, discounts and promotions) to remove such excess inventory, and (3) Mattel also faced a heightened risk that it would experience slower sales growth in future periods.
Shareholders have until August 28, 2017 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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