NEW YORK, June 28, 2017 The investigation concerns whether Mattel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On April 20, 2017, post-market, Mattel announced financial and operating results for the first fiscal quarter of 2017 that fell significantly below Wall Street consensus estimates. The Company reported that its worldwide net sales and gross margins had each declined by more than 15% on a year-over-year basis, and that the Company's operating loss increased by more than 158%, from $49.1 million to $127.0.
On this news, Mattel's share price fell $3.42, or 13.57%, to close at $21.79 on April 21, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-mattel-inc---mat-300481214.html
SOURCE Pomerantz LLP