Kaskela Law LLC Announces Stockholder Investigation of Mattel, Inc. (MAT) and Encourages Long-Term Investors to Contact the Firm
PHILADELPHIA, PA / ACCESSWIRE / April 18, 2020 / Kaskela Law LLC is investigating Mattel, Inc. ("Mattel" or the "Company") (MAT) on behalf of the Company's stockholders.
Recently, a shareholder 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."
Then, 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.
Current Mattel stockholders who purchased or acquired shares of the Company's stock prior to August 8, 2019 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/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. 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
SOURCE: Kaskela Law LLC
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