Shareholder sues Mattel

Lawsuit contends firm misled its investors
Publish date:

A lawsuit has been filed against Mattel on behalf of Sterling Heights Police and Fire Retirement System of Michigan, claming the firm failed to report serious defects in its toys

The lawsuit, which was filed yesterday in the Delaware Chancery Court, claims that Mattel purposely withheld information its toys posed a potential threat to the health and safety of users in order to protect it from financial loses, according to Reuters UK.

The suit said: "The tardiness of Mattel's disclosure of known dangers related to its latest recall is not an isolated one-off event - it is Mattel's way of doing business".

The lawsuit asks for compensatory and other damages related to the product recalls, including making timely disclosures to regulators.



Chinese to sue Mattel?

Reports from China say that the government of Guangdong Province may help local manufacturers file a lawsuit against Mattel.

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.