Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Hasbro, Inc. Investors (HAS)
LOS ANGELES--(BUSINESS WIRE)--Oct 5, 2018--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased Hasbro, Inc. (“Hasbro” or the “Company”) (NASDAQ: HAS ) securities between April 24, 2017 and October 23, 2017, inclusive (the “Class Period”). Hasbro investors have until November 27, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On October 23, 2017, Hasbro announced its third quarter 2017 financial results. Hasbro’s CEO stated that “[a]s a result of the Toys ‘R’ Us bankruptcy filing in the U.S. and Canada, there was a negative impact on our quarterly revenues and operating profit.” On this news, shares of Hasbro fell $2.94, or 22%, to close at $89.75, on October 23, 2017, thereby injuring investors.
The complaint filed in this class action alleges that Hasbro made false and/or misleading statements and/or failed to disclose that: (1) Hasbro’s relationship with Toys “R” Us was becoming increasingly important to Hasbro’s business, but that Toys “R” Us was in far worse financial condition than was being publicly reported; (2) Hasbro was experiencing significant undisclosed adverse sales issues in two key markets—the United Kingdom and Brazil—which were negatively impacting Hasbro’s efforts to grow sales in those markets; and (3) as a result of the foregoing, defendants’ statements about Hasbro’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased shares of Hasbro during the Class Period you may move the Court no later than November 27, 2018 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 email@example.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.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181005005027/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 10/05/2018 10:30 AM/DISC: 10/05/2018 10:30 AM