PHILADELPHIA, May 8, 2020 /PRNewswire/ -- Kaskela Law LLC is
investigating Mattel, Inc. ("Mattel" or the "Company") (NASDAQ:
MAT) on behalf of the Company's stockholders.
Current Mattel stockholders who purchased or acquired shares of
the Company's stock prior to August 2,
2017 are encouraged to contact Kaskela Law LLC (D.
Seamus Kaskela, Esq.) at (484) 258 –
1585, or by email at skaskela@kaskelalaw.com or online at
http://kaskelalaw.com/case/mattel-inc/, to discuss this
investigation and their legal rights and options.
Recently a shareholder class action complaint was filed in
federal court on behalf of investors who purchased shares of the
Company's stock between August 2,
2017 and August 8, 2019.
Among other things, the complaint alleges that "Mattel misled
investors concerning its financial condition and the effectiveness
of its internal control over financial reporting including by
understating its income tax expense by $109
million in the third quarter of 2017 and then by working
with its auditor, PwC, to manipulate the Company's accounting to
conceal this misstatement and avoid restating the Company's
financial results."
Subsequently, on February 25,
2020, Mattel disclosed that it had received a subpoena in
December 2019 from the U.S.
Securities and Exchange Commission "seeking documents related to
[a] whistleblower letter and subsequent investigation," and that
the Company was "also responding to requests from the United States Attorney's Office for the
Southern District of New York
('SDNY') related to this matter."
The firm's investigation seeks to determine whether the members
of Mattel's board of directors breached their fiduciary duties in
connection with the above alleged misconduct.
Kaskela Law LLC represents investors in securities fraud,
corporate governance, and merger & acquisition
litigation. For additional information about Kaskela Law LLC
please visit www.kaskelalaw.com. This notice may constitute
attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 – 1585
(888) 715 – 1740
www.kaskelalaw.com
skaskela@kaskelalaw.com
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SOURCE Kaskela Law LLC