CURRENT SHAREHOLDERS: Zamansky LLC Investigates Mattel, Inc. (MAT) for Potential Breaches of Fiduciary Duties
NEW YORK--(BUSINESS WIRE)--Feb 18, 2019--Zamansky LLC announces that it is investigating Mattel, Inc. (Nasdaq:MAT) (“Mattel” or the “Company”) for potential breaches of fiduciary duties. Specifically, the investigation concerns the Company’s recently announced fourth quarter earnings, and certain statements made by CEO Ynon Kreiz about Mattel’s 2018 sales of its Barbie doll, as well as guidance on anticipated 2019 sales. If you are a Mattel shareholder and still hold your MAT shares, please contact our firm for further information.
As recently reported, on February 7, 2019, Mattel held an earnings conference call for the quarter ended December 31, 2018. During that call CEO Kreiz made certain comments about how “2018 was a great year for Barbie” and, moreover, suggested that 2019 would offer another solid year for Barbie sales. Only about one week later, however, Mattel announced during an analyst meeting that it intended to downgrade its 2019 forecast, citing weakening demand for its iconic doll. Following release of this news, Mattel shares declined nearly 20% in value, to close at $13.82 per share on February 15, 2019.
According to Jake Zamansky, an investment fraud attorney, Mattel’s officers and directors owe the Company and its shareholders fiduciary duties. “Our initial review of Mattel and its abrupt change of course on its guidance following an optimistic earnings call suggests shareholders may have suffered damages as a result of previous statements concerning sales of product around the Holidays and into 2019,” Zamansky says. “As we continue our investigation into this matter, our law firm will review whether certain of Mattel’s officers and directors may have breached their duties to the Company.”
What Mattel Shareholders Can Do
If you are a current shareholder of Mattel, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email email@example.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190218005403/en/
CONTACT: Zamansky LLC
Jake Zamansky, 212-742-1414
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Zamansky LLC
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PUB: 02/18/2019 04:05 PM/DISC: 02/18/2019 04:06 PM