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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Mattel, Inc. Investors (MAT)

March 7, 2019

LOS ANGELES--(BUSINESS WIRE)--Mar 6, 2019--Glancy Prongay & Murray LLP  (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Central District of California, captioned Wyatt v. Mattel, Inc. et al., (Case No. 2:19-cv-01646), on behalf of persons and entities that purchased or otherwise acquired Mattel, Inc. (NASDAQ: MAT ) (“Mattel” or the “Company”) securities between February 7, 2019 and February 15, 2019, inclusive (the “Class Period”). Plaintiff pursues claims under the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to  shareholders@glancylaw.com, or visit our website at  www.glancylaw.com.

On February 15, 2019, the Company provided disappointing outlook for 2019, citing slowing growth in sales of Barbie and Hot Wheels. On this news, the Company’s share price fell $3.09 per share, more than 18%, to close at $13.82 per share on February 15, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that demand for the Company’s products, including Barbie and Hot Wheels, was declining; (2) that the Company had an excess of product supply; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Follow us for updates on Twitter:  twitter.com/GPM_LLP.

If you purchased Mattel securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to  shareholders@glancylaw.com, or visit our website at  www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190306005887/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 03/06/2019 09:28 PM/DISC: 03/06/2019 09:28 PM

http://www.businesswire.com/news/home/20190306005887/en