Investors Alert: Legal Action Against Hasbro for Securities Violations Under Guidance of Former Louisiana Attorney General
In recent news, Kahn Swick & Foti, LLC (KSF), a distinguished law firm known for its expertise in securities litigation, is alerting investors about a significant opportunity for those who suffered financial losses while investing in Hasbro, Inc. (NasdaqGS: HAS). Former Louisiana Attorney General Charles C. Foti, Jr., a partner at KSF, has announced that investors who purchased Hasbro shares between February 7, 2022, and October 25, 2023, may be eligible to participate in a class action lawsuit aimed at recovering their losses.
The class action lawsuit is filed in the United States District Court for the Southern District of New York. It raises serious allegations against Hasbro and certain executives for not disclosing crucial information during the aforementioned period, thereby violating federal securities laws. This follows an alarming announcement from Hasbro on October 26, 2023, when it revealed a staggering 18% year-over-year decline in Consumer Product revenues. The company attributed these disappointing results to various factors, including exited businesses, lackluster industry trends, and a strategic shift in inventory management.
Following this announcement, Hasbro's stock price plummeted by $6.38, or 11.7%, from a closing price of $54.75 on October 25, 2023, to $48.37 on the following day. Investors who feel their financial rights have been compromised are encouraged to act swiftly, as the deadline to file lead plaintiff applications is January 13, 2025.
If you are one of the investors affected by the recent downturn in Hasbro’s stock price and wish to discuss your legal options, you can contact Kahn Swick & Foti, LLC. Lewis Kahn, the Managing Partner, is available for consultations and can be reached at 1-877-515-1850 or via email at email protected]. Moreover, more information regarding the case can be accessed through their official website at [Kahn Swick & Foti.
This lawsuit could have far-reaching implications for Hasbro and its executives, should the court find the allegations valid. The firm KSF has a solid track record of representing clients who have suffered from corporate misconduct, demonstrating a commitment to ensuring that vulnerable investors have a voice in the legal system. Public institutional investors, hedge funds, and retail investors stand to gain significant recourse if findings support their claims against Hasbro.
Kahn Swick & Foti, LLC has cemented its status as one of the leading boutique securities litigation firms in the country. With multiple offices spread across New York, California, Louisiana, Delaware, New Jersey, and Chicago, the firm has a wide reach that allows them to provide comprehensive services for clients seeking to hold corporations accountable for their actions. KSF specializes not only in securities cases but also in recovering losses that stem from corporate fraud and malfeasance, representing a diverse clientele which includes public institutional investors, hedge funds, and retail investors.
As the deadline approaches, it’s critical for investors who qualify to take action and safeguard their rights. Monitoring the progress of this case could provide crucial insights into the evolving landscape surrounding corporate accountability in the public sphere. Investors are urged to stay informed and to consider the potential outcomes of this litigation as part of their ongoing investment strategy.
Background of the Case
The class action lawsuit is filed in the United States District Court for the Southern District of New York. It raises serious allegations against Hasbro and certain executives for not disclosing crucial information during the aforementioned period, thereby violating federal securities laws. This follows an alarming announcement from Hasbro on October 26, 2023, when it revealed a staggering 18% year-over-year decline in Consumer Product revenues. The company attributed these disappointing results to various factors, including exited businesses, lackluster industry trends, and a strategic shift in inventory management.
Following this announcement, Hasbro's stock price plummeted by $6.38, or 11.7%, from a closing price of $54.75 on October 25, 2023, to $48.37 on the following day. Investors who feel their financial rights have been compromised are encouraged to act swiftly, as the deadline to file lead plaintiff applications is January 13, 2025.
What Investors Should Do
If you are one of the investors affected by the recent downturn in Hasbro’s stock price and wish to discuss your legal options, you can contact Kahn Swick & Foti, LLC. Lewis Kahn, the Managing Partner, is available for consultations and can be reached at 1-877-515-1850 or via email at email protected]. Moreover, more information regarding the case can be accessed through their official website at [Kahn Swick & Foti.
Implications of the Lawsuit
This lawsuit could have far-reaching implications for Hasbro and its executives, should the court find the allegations valid. The firm KSF has a solid track record of representing clients who have suffered from corporate misconduct, demonstrating a commitment to ensuring that vulnerable investors have a voice in the legal system. Public institutional investors, hedge funds, and retail investors stand to gain significant recourse if findings support their claims against Hasbro.
About Kahn Swick & Foti, LLC
Kahn Swick & Foti, LLC has cemented its status as one of the leading boutique securities litigation firms in the country. With multiple offices spread across New York, California, Louisiana, Delaware, New Jersey, and Chicago, the firm has a wide reach that allows them to provide comprehensive services for clients seeking to hold corporations accountable for their actions. KSF specializes not only in securities cases but also in recovering losses that stem from corporate fraud and malfeasance, representing a diverse clientele which includes public institutional investors, hedge funds, and retail investors.
As the deadline approaches, it’s critical for investors who qualify to take action and safeguard their rights. Monitoring the progress of this case could provide crucial insights into the evolving landscape surrounding corporate accountability in the public sphere. Investors are urged to stay informed and to consider the potential outcomes of this litigation as part of their ongoing investment strategy.
Topics Financial Services & Investing）
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