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HAS.US
id: 1390
Hasbro (HAS) Inventory Mismanagement Case
S.D. New York
Court1:24-cv-08633
Case number02/07/2022
Class period Start10/25/2023
Class period End01/13/2025
Lead Plaintiff motion deadline- $HAS stockholders filed a claim against Hasbro for misleading them about inventory management and consumer demand.
- After revealing disappointing sales and inventory challenges, $HAS dropped by over 20% in 2023.
- $HAS investors can join this case to be notified about potential recovery.
Case Details:
In January 2023, Hasbro disclosed weak holiday sales and announced significant layoffs, signaling serious inventory management issues.
This news led to an 8.1% drop in $HAS.
On October 26, 2023, Hasbro provided further details about its struggles, revealing declining revenues and $50 million in additional costs to clear out excess inventory.
These disclosures resulted in an 11.7% drop in $HAS.
Based on these events, $HAS stockholders filed a claim against Hasbro, accusing the company of the following:
- The company misled investors about the strength of consumer demand and the quality of its inventory.
- That Hasbro failed to disclose significant risks related to inventory mismanagement.
- The company understated the financial impact of its excess inventory and related costs.
Investors believe Hasbro misled them by downplaying inventory challenges and exaggerating demand strength.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements,
Failure to Disclose
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
01/26/2023
Filing date
11/13/2024
Lead Plaintiff Deadline
01/13/2025
Judge
Vernon S. Broderick