#United States #Hasbro #Charles C. Foti #New Orleans #Kahn Swick

Kahn Swick & Foti, LLC Reminds Hasbro Investors

Kahn Swick & Foti, LLC (KSF), led by former Louisiana Attorney General Charles C. Foti, Jr., has issued an urgent reminder for investors who have suffered losses exceeding $100,000 from Hasbro, Inc. (NasdaqGS: HAS). The deadline for filing lead plaintiff applications in a class action lawsuit is set for January 13, 2025. Investors who acquired Hasbro shares during the period from February 7, 2022, to October 25, 2023 are particularly urged to take action.

Legal Rights and Actions

Any individual who purchased shares of Hasbro and is interested in discussing their legal rights and potential recourse should not hesitate to reach out. KSF offers free consultations to those affected. Interested parties can contact KSF's Managing Partner, Lewis Kahn, by phone at 1-877-515-1850 or via email at lewis.kahn@ksfcounsel.com, or visit their website at www.ksfcounsel.com for more information.

Background of the Lawsuit

The lawsuit stems from allegations against Hasbro and certain executives regarding a failure to disclose critical financial information during the class period, which constitutes a breach of federal securities laws. On October 26, 2023, Hasbro released its third-quarter earnings report that shocked investors by revealing an 18% drop in Consumer Product revenues compared to the previous year.

This downturn was attributed to various factors, such as exiting unprofitable businesses, ongoing weak industry trends, and prioritizing better inventory management. Additionally, Hasbro revised its full-year revenue forecast from a previously estimated decline of 3% to 6% down to a more significant decline of 13% to 15%.

The implications of this news were immediate, resulting in a $6.38 drop in the company's stock price – nearly 11.7% – which fell from a closing price of $54.75 on October 25 to just $48.37 on October 26, 2023. This significant drop clearly indicates the impact of the disclosures on investor confidence and stock valuation.

Understanding the Legal Process

The case is officially titled West Palm Beach Firefighters' Pension Fund v. Hasbro, Inc., et al., No. 24-cv-8633. Those affected are encouraged to consider joining the lawsuit to potentially recover their losses associated with this corporate mismanagement. The role of lead plaintiff is pivotal, as this person will represent the interest of all shareholders involved in the lawsuit.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC is a respected law firm specializing in securities litigation. Their experienced team includes former Attorney General Charles C. Foti, Jr., who has a strong track record of advocating for investors affected by corporate fraud or malfeasance. KSF represents a wide range of clients, including public institutional investors, hedge funds, and retail investors.

With offices spread across multiple states, including New York, Delaware, California, Louisiana, Chicago, and New Jersey, KSF is well-equipped to handle complex legal situations effectively. For more insights and guidance, potential investors and concerned parties are encouraged to visit their website at www.ksfcounsel.com.

Conclusion

Investors with losses from their Hasbro shares are reminded of the importance of acting swiftly as the deadline approaches. Engaging with Kahn Swick & Foti could provide a pathway for recovering losses incurred during the turbulent period of Hasbro's recent financial missteps. Don’t miss the opportunity to protect your rights and join fellow investors in seeking justice against corporate negligence.