Former Louisiana Attorney General Warns Hasbro Investors About Class Action Deadline
In a critical reminder for investors, Kahn Swick & Foti, LLC (KSF), alongside its partner and former Louisiana Attorney General, Charles C. Foti, Jr., stressed the urgency of the upcoming lead plaintiff deadline in a class action lawsuit against Hasbro, Inc. Investors who experienced losses of over $100,000 are called to action as they have until January 13, 2025, to submit applications for lead plaintiff status.
This class action lawsuit revolves around the claims that Hasbro and its executives failed to disclose significant material information during the designated class period, which spans from February 7, 2022, to October 25, 2023. The case is currently being handled in the United States District Court for the Southern District of New York.
The urgency of this alert comes in light of Hasbro's recent troubles, specifically following the disclosure of its third-quarter results for 2023. The company reported an alarming 18% year-over-year drop in revenues from its Consumer Products segment. Notably, this decline was attributed to several factors, including the exit from various businesses, subdued industry trends, and a focus on better inventory management. Furthermore, the company adjusted its revenue forecast for the entire year, indicating a potential decline of 13% to 15%, a significant increase from the previously projected decrease of only 3% to 6%.
This grim news led to a substantial drop in Hasbro's share price, which plummeted by $6.38 per share or 11.7%, dropping from $54.75 at the close on October 25, 2023, to $48.37 the following day. This development has left many investors feeling blindsided and seeking possible recourse.
For those impacted, the firm Kahn Swick & Foti, which prides itself on being one of the nation’s elite boutique securities litigation practices, encourages affected investors to contact their offices. The firm serves a wide array of clients, including institutional investors, hedge funds, and individual retail investors, assisting them in recovering from losses tied to corporate malfeasance by publicly traded companies.
Interested parties can reach out to KSF’s Managing Partner, Lewis Kahn, at 1-877-515-1850 or via email for guidance on their legal rights and the implications of the ongoing case. Furthermore, those wishing to become a lead plaintiff must formally petition the Court, meeting the January 13, 2025, deadline.
The case, known publicly as West Palm Beach Firefighters' Pension Fund v. Hasbro, Inc., et al., underlines the disturbances within Hasbro's management and its adherence to federal securities laws. With such severe implications at stake, investors are urged to take action quickly to secure their position in this forthcoming legal fight.
Kahn Swick & Foti is dedicated to holding public companies accountable, and they are poised to provide legal representation to those affected by Hasbro’s alleged failures to disclose crucial financial information. Their offices are situated across various states, including New York, Delaware, California, Louisiana, and New Jersey, providing a broad network of assistance to their clients.
In light of these developments, investors are encouraged to remain vigilant about their engagement with Hasbro and stay informed through KSF’s resources to navigate these turbulent financial waters. For more information on the case or to learn about potential claims, visit KSF's dedicated webpage.
This class action lawsuit revolves around the claims that Hasbro and its executives failed to disclose significant material information during the designated class period, which spans from February 7, 2022, to October 25, 2023. The case is currently being handled in the United States District Court for the Southern District of New York.
The urgency of this alert comes in light of Hasbro's recent troubles, specifically following the disclosure of its third-quarter results for 2023. The company reported an alarming 18% year-over-year drop in revenues from its Consumer Products segment. Notably, this decline was attributed to several factors, including the exit from various businesses, subdued industry trends, and a focus on better inventory management. Furthermore, the company adjusted its revenue forecast for the entire year, indicating a potential decline of 13% to 15%, a significant increase from the previously projected decrease of only 3% to 6%.
This grim news led to a substantial drop in Hasbro's share price, which plummeted by $6.38 per share or 11.7%, dropping from $54.75 at the close on October 25, 2023, to $48.37 the following day. This development has left many investors feeling blindsided and seeking possible recourse.
For those impacted, the firm Kahn Swick & Foti, which prides itself on being one of the nation’s elite boutique securities litigation practices, encourages affected investors to contact their offices. The firm serves a wide array of clients, including institutional investors, hedge funds, and individual retail investors, assisting them in recovering from losses tied to corporate malfeasance by publicly traded companies.
Interested parties can reach out to KSF’s Managing Partner, Lewis Kahn, at 1-877-515-1850 or via email for guidance on their legal rights and the implications of the ongoing case. Furthermore, those wishing to become a lead plaintiff must formally petition the Court, meeting the January 13, 2025, deadline.
The case, known publicly as West Palm Beach Firefighters' Pension Fund v. Hasbro, Inc., et al., underlines the disturbances within Hasbro's management and its adherence to federal securities laws. With such severe implications at stake, investors are urged to take action quickly to secure their position in this forthcoming legal fight.
Kahn Swick & Foti is dedicated to holding public companies accountable, and they are poised to provide legal representation to those affected by Hasbro’s alleged failures to disclose crucial financial information. Their offices are situated across various states, including New York, Delaware, California, Louisiana, and New Jersey, providing a broad network of assistance to their clients.
In light of these developments, investors are encouraged to remain vigilant about their engagement with Hasbro and stay informed through KSF’s resources to navigate these turbulent financial waters. For more information on the case or to learn about potential claims, visit KSF's dedicated webpage.
Topics Financial Services & Investing）
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