Hasbro investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, Hasbro is a global play and entertainment company that promotes its brands through immersive storytelling across mediums, including television, film, digital and more. Hasbro’s biggest customers are Wal-Mart Stores, Inc., Toys “R” Us, Inc. and Target Corporation, which accounted for approximately 18%, 9%, and 9% respectively, of its consolidated net revenues in fiscal year 2016. On September 19, 2017, Toys “R” Us filed for bankruptcy protection.
The Class Period commences on April 24, 2017, when Hasbro issued a press release announcing its financial results for the first quarter of 2017 for the period ended April 2, 2017. On the same day, Hasbro held a conference call with analysts and investors to discuss the company’s earnings and operations. In his opening remarks, Brian D. Goldner, Hasbro’s CEO and Chairman of the Board, represented that the company was well-positioned to deliver profitable growth this year and in future years.
The complaint alleges that, on October 23, 2017, Hasbro issued a press release announcing its third quarter 2017 financial results for the period ended October 1, 2017. That same day, Hasbro held a conference call with analysts and investors to discuss their earnings and operations. During the conference call, Mr. Goldner acknowledged that the problems in the U.K. and Brazil that he previously didn’t see as a “long-term” issue are continuing. Following this news, the price of Hasbro common stock declined from $92.69 per share to $89.75 per share, and a precipitous drop from the class period high of $115.95, which was the price of the stock at the close on July 21, 2017.
The complaint alleges that during the Class Period, the defendants materially misled the investing public, thereby inflating the price of Hasbro common stock by publicly issuing false and misleading statements and omitting to disclose material facts necessary to make the defendants’ statements not false and misleading. Said statements and omissions were materially false and misleading in that they failed to disclose material adverse information and misrepresented the truth about Hasbro, its business and operations.
If you are a member of the class described above, you may no later than November 27, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com