NEW YORK, Oct. 16, 2018 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Hasbro, Inc. ("Hasbro" or the "Company") (NASDAQ: HAS). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Hasbro and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 23, 2017, Hasbro issued a press release announcing its financial and operating results for the period ended October 1, 2017. Hasbro reported a 5% decline in the Company's U.S. and Canada segment's quarterly operating profit to $217.3 million, or 21.9% of net revenues, compared to $228 million, or 24.4% of net revenues in 2016, citing the impact of the Toys "R" Us, Inc. bankruptcy filing. That same day, Hasbro held a conference call with investors and analysts, during which the Company stated that it faced continued "tough economic conditions" in the U.K. and Brazil, which it "anticipate[d] will continue for the remainder of the year."
Following these disclosures, Hasbro's stock price fell $8.44 per share, or 8.6%, to close at $89.75 per share on October 23, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby