Hasbro (HAS) Inventory Mismanagement Case

S.D. New York

Court

1:24-cv-08633

Case number

02/07/2022

Class period Start

10/25/2023

Class period End

01/13/2025

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

Hasbro (HAS) Inventory Mismanagement Case

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