September 19, 2018 - An amended complaint was not filed. The court dismissed the case.

May 24, 2018 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 24, 2018 - A motion to dismiss the amended consolidated complaint was filed.

November 28, 2017 - An amended consolidated complaint was filed.

June 27, 2017 - An investor in shares of Mattel Inc (NASDAQ: MAT) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Mattel Inc in connection with certain allegedly false and misleading statements made between October 20, 2016 and April 20, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Mattel Inc (NASDAQ: MAT) common shares between October 20, 2016 and April 20, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 20, 2016 and April 20, 2017, the defendants made false and misleading statements and/or failed to disclose adverse information regarding Mattel Inc’s business and prospects, including that prior to and between October 20, 2016 and April 20, 2017, Mattel Inc’s retail customers were loaded with extremely high levels of unsold Mattel product and, as a consequence, Mattel Inc was exposed to the heightened risk that it would have to issue its retailers financial concessions (in the form of sales adjustments, discounts and promotions) to remove such excess inventory, as well as the heightened risk that Mattel Inc would experience slower sales growth in future periods.

Mattel Inc reported that its annual Total Revenue declined from over $5.7 billion in 2015 to over $5.45 billion in 2016 and that its respective Net Income decreased from $366.24 million to $318.02 million.

On April 20, 2017, after the close of the market, Mattel Inc announced its first quarter 2017 financial results, reporting that, on a year-over-year basis, worldwide net sales and gross margins each declined by more than 15%, and its operating loss increased by more than 158% to $127.0 million from $49.1 million. Mattel’s first quarter 2017 results were significantly below Wall Street consensus estimates. In fact, Mattel Inc’s 15% net sales decline during the quarter was twice the 7.8% decline expected by Wall Street analysts and its reported first quarter 2017 gross margins were 520 basis points less than expected Wall Street consensus estimates.

Shares of Mattel Inc (NASDAQ: MAT) declined from $34.06 per share in August 2016 to as low as $19.41 per share on June 21, 2017.