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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 Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Mattel, Inc.

March 16, 2019

LOS ANGELES--(BUSINESS WIRE)--Mar 15, 2019--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the May 6, 2019  deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Mattel, Inc. (“Mattel” or the “Company”) (NASDAQ:  MAT ) securities between February 7, 2019 and February 15, 2019, inclusive (the “Class Period”). Mattel investors have until  May 6, 2019  to file a lead plaintiff motion in this class 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 a 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 or otherwise acquired Mattel securities during the Class Period you may move the Court no later than  May 6, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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/20190315005605/en/

CONTACT: Glancy Prongay & Murray LLP, Los Angeles

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

shareholders@glancylaw.com

www.glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 03/15/2019 09:20 PM/DISC: 03/15/2019 09:20 PM

http://www.businesswire.com/news/home/20190315005605/en