Bragar Eagel & Squire, P.C. is Investigating Mattel, Inc. (MAT) on Behalf of Stockholders and Encourages MAT Investors to Contact the Firm
NEW YORK, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Mattel, Inc. (NASDAQ: MAT). Our investigation concerns whether Mattel has violated the federal securities laws and/or engaged in other unlawful business practices.
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On February 7, 2018, Mattel released its fourth quarter 2018 earnings, beating analyst expectations and sales predictions. On an investor conference call, CEO Ynon Kreiz stated “2018 was a great year for Barbie, which sustained growth and continued momentum globally. . . . We look forward to celebrating her 60th anniversary throughout 2019.”
On February 15, 2019 during an analyst meeting, Mattel announced it would downgrade its 2019 forecast, reporting slowing demand for its Barbie doll. Reuters published an article on the company’s adjusted forecast noting that it came “barely a week after the company said strong holiday sales of Barbie drove a surprise fourth quarter profit.” The Wall Street Journal also published an article on Mattel’s adjusted outlook, noting “Mattel’s decision to announce an adjusted outlook just a week after earnings is bizarre,” and further stating “[M]attel isn’t as healthy as it made out. Management should have been candid about that when it reported earnings instead of letting investors get unjustly excited.”
On this news, MAT’s share price fell by more than 18%, closing at $13.82 on February 15, 2019.
If you purchased or otherwise acquired Mattel shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Mattel please go to https://bespc.com/mat/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.