Faruqi & Faruqi, LLP investigates claims on behalf of Hasbro Investors from Investing.com

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 in Hasbro (NASDAQ:) to Contact Him Directly to Discuss Their Options

If you immediately lost more than $ 100,000 in Hasbro between February 7, 2022 and October 25, 2023 and want to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly to 877-247-4292 o 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – December 30, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Hasbro, Inc. (“Hasbro” or “Company”) (NASDAQ: HAS) and reminds investors of the January 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the quality of inventory that Hasbro held, and represented that their rising inventory levels reflected exceptional and anticipated. demand, rather than excess supply outstripping falling demand. As a result of these misrepresentations, Hasbro’s common stock traded at artificially inflated prices throughout the Class Period.

The truth began to emerge on January 26, 2023, when the Company anticipated its fourth quarter results for the fiscal year 2022. Hasbro, having repeatedly affirmed the apparent strength of the 2022 holiday season, now admits that revenues would contract by 17% annually. -year. To combat the weakening of sales, Hasbro announced that it will lay off 15% of its global workforce, and at the same time disclosed the immediate departure of its Chief Operating Officer.

These disclosures caused Hasbro’s stock price to drop by $5.17 per share, or more than 8%. However, the Attorneys continued to make false and reassuring statements to investors regarding the extent of the inventory build-up.

The truth was also revealed on October 26, 2023, when Hasbro announced its financial results for its third quarter of the fiscal year 2023 and shocked investors by disclosing an 18% decrease in revenue from consumer products year on year, with a significant reduction in guidance. for the rest of the year. Hasbro also revealed that it anticipated a “$50-ish million one-time cost” that would have to be spent on “move(ing) through inventory at the retailer level, extra marketing to move through inventory, (and ) extra cost of obsolescence” in its consumer products segment.

These disclosures caused Hasbro’s stock price to drop another $6.38 per share, or more than 11%.

The court-appointed lead plaintiff is the investor with the greatest financial interest in the relief sought by the class that is appropriate and typical of the class members who conducts and oversees the litigation on behalf of the putative class. Any putative class member may move the Court to serve as lead plaintiff through an attorney of their choosing, or they may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead actor or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Hasbro’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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To view the source version of this press release, visit https://www.newsfilecorp.com/release/235544