Archived Investigations
Hasbro, Inc. (NasdaqGS: HAS)
Hasbro and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 26, 2023, pre-market, the Company announced its results for 3Q2023, disclosing an 18% decline in Consumer Product revenues year-over-year, “driven by exited businesses, soft industry trends and prioritization of inventory management across both owned and retail inventory” and revised its full year guidance for Consumer Product to an expected revenue decline of 13% to 15%, compared to the previously forecast 3% to 6% decline.
On this news, the price of Hasbro’s shares fell $6.38 per share, or 11.7%, from a closing price of $54.75 per share on October 25, 2023, to a closing price of $48.37 per share on October 26, 2023.
The case is West Palm Beach Firefighters’ Pension Fund v. Hasbro, Inc., et al., No. 24-cv-8633.