#United States #New York #Class Action #Hasbro Inc #Levi Korsinsky

Class Action Lawsuit Filed Against Hasbro, Inc.

On December 31, 2024, it was officially announced that a class action lawsuit has been filed against Hasbro, Inc. (NASDAQ: HAS) by the prominent law firm, Levi & Korsinsky, LLP. This legal action has come to light for the purpose of seeking recovery for the investors who have suffered financial losses due to alleged fraudulent activities perpetrated by the company's management.

Overview of the Allegations

The lawsuit specifically addresses events occurring between February 7, 2022, and October 25, 2023. During this period, it is alleged that key officers of Hasbro made multiple materially false and misleading statements regarding the company’s inventory levels. The complaint argues that these statements did not accurately reflect the real condition of Hasbro’s inventory, misleading investors into believing that the company’s increasing inventory was a sign of rising demand, rather than an indication of excessive supply that surpassed dwindling consumer demand.

As a consequence of these misrepresentations, Hasbro's stock traded at prices that were artificially inflated, which ultimately impacted shareholders negatively once the truth was revealed.

What's Next for Affected Investors?

Investors who incurred losses during the specified time frame are encouraged to take action swiftly. They have until January 13, 2025, to submit a request to be appointed as the lead plaintiff in this case. It’s crucial to note that participation in the recovery does not necessitate serving in this capacity; class members may still benefit even if they do not take on the lead role.

Furthermore, for those eligible, there is no cost incurred out-of-pocket to join the class action. Levi & Korsinsky assures that all class members may be eligible for compensation without any financial obligation or risk.

Why Choose Levi & Korsinsky?

With a firm foundation built over 20 years, Levi & Korsinsky has established a notable track record of recovering hundreds of millions of dollars for investors. Their team is highly experienced in complex securities litigation, making them well-equipped to tackle high-stakes cases. Notably, for seven consecutive years, they have been recognized in the ISS Securities Class Action Services’ Top 50 Report, solidifying their reputation as one of the leading firms in the United States for securities litigation.

Contact Information

Any investor interested in more information about this class action lawsuit can reach out directly to Levi & Korsinsky. Joseph E. Levi, Esq., and Ed Korsinsky, Esq. can be contacted via email at [email protected] or by phone at (212) 363-7500. Additionally, further details about the lawsuit can be found through the firm's official website.

As the class action progresses, updates and pertinent developments will be made available to the affected investors. It is imperative for anyone impacted to stay informed and consider their options regarding this significant legal action against Hasbro, Inc.