Long-Term Hasbro (HAS) Investors: Johnson Fistel Investigates Hasbro, Inc.; Encourages Long-Term Investors to Contact the Firm
SAN DIEGO–(PRNewswire)—October 2, 2018
Johnson Fistel, LLP is investigating potential violations of the federal and state securities laws by Hasbro, Inc. (NASDAQ: HAS) (“Hasbro”) and certain of its officers. Hasbro, together with its subsidiaries, operates as a play and entertainment company.
Recently, a Securities Class Action Complaint was filed on behalf of those who purchased securities of Hasbro between April 24, 2017 and October 23, 2017. The complaint alleges that during the Class Period, defendants made false and misleading statements and failed to disclose adverse information regarding Hasbro’s business and prospects. Specifically, defendants knew or recklessly disregarded that Hasbro’s relationship with Toys “R” Us was becoming increasingly important to Hasbro’s business, as Toys “R” Us was the primary retail brick-and-mortar toy store in the United States, and that Toys “R” Us was in far worse financial condition than was being publicly reported and it would have to dramatically scale back its operations or file for bankruptcy and liquidate. In addition, Hasbro was experiencing significant undisclosed adverse sales issues in two key markets – the United Kingdom and Brazil – which were negatively impacting the Company’s efforts to grow sales in those markets. As a result of this information being withheld from the market, the price of Hasbro common stock was artificially high during the Class Period to over $115 per share, and Hasbro insiders were able to sell $147 million worth of their personally held Hasbro stock to the public at inflated prices.
If you have held Hasbro shares continuously before April 24, 2017, you may have standing to hold Hasbro harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.
If you are a Hasbro shareholder continuously holding shares before April 24, 2017, and are interested in learning more about your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If you email, please include your phone number.
Additionally, you can [Click here to join this action]. There is no cost or obligation to you.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.