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JAKKS Pacific Inc (NASDAQ: JAKK) Investor Securities Class Action Lawsuit 07/25/2013

  • If you purchased shares of JAKKS Pacific Inc (NASDAQ: JAKK), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
JAKKS Pacific, Inc.
Security
NASDAQ: JAKK

Case Name
JAKKS Pacific Shareholder Class Action Lawsuit 07/25/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

December 12, 2016 - The court entered an order dismissing the case with prejudice.
November 18, 2016 - The court granted defendants' to dismiss with prejudice.

May 8, 2015 - Defendants filed a motion to dismiss.

March 23, 2015 - The lead plaintiff filed a third amended consolidated complaint.

March 2, 2015 - The court granted defendants' motion to dismiss without prejudice.

August 8, 2014 - Defendants filed a motion to dismiss.

July 8, 2014 - The lead plaintiff filed a second amended consolidated complaint.

June 6, 2014 - The court granted defendants' motion to dismiss without prejudice.

February 17, 2014 - Defendants filed a motion to dismiss.

January 17, 2014 - The lead plaintiff filed a first amended consolidated complaint.

December 2, 2013 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

September 23, 2013 - Lead plaintiff motions were filed.

August 8, 2013 - The plaintiff filed an amended complaint on behalf of investors who purchased JAKK common shares between July 17, 2012 and July 17, 2013. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between July 17, 2012 and July 17, 2013.

July 25, 2013 - An investor in shares of JAKKS Pacific Inc (NASDAQ: JAKK) filed a lawsuit in the U.S. District Court for the Central District of California against JAKKS Pacific Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 21, 2013 and July 17, 2013.

According to the complaint the plaintiff alleges on behalf of purchasers of JAKKS Pacific Inc (NASDAQ: JAKK) common stock during the period February 21, 2013 and July 17, 2013, that JAKKS Pacific Inc and certain of its officers and directors violated Federal Securities Laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

JAKKS Pacific Inc reported that its total annual Revenue declined from $677.75 million in 2011 to $666.76 million in 2012 and that its Net Income of $8.47 million in 2011 decreased to a Net Loss o $104.80 million in 2012.

Shares of JAKKS Pacific Inc (NASDAQ: JAKK) declined from $21.04 per share in April 2011 to $11.87 per share in November 2012.

On July 17, 2013, after the market closed, JAKKS Pacific Inc reported results for the Company’s second quarter ended June 30, 2013. Among other things, JAKKS Pacific Inc revised its 2013 guidance and announced that due to business conditions, it has suspended its quarterly dividend, which it will re-evaluate upon a return to profitability.

Shares of JAKKS Pacific Inc (NASDAQ: JAKK) dropped from $11.48 per share on July 17, 2013, to $6.06 per share on July 25, 2013.