Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Urges Investors Suffering Losses Exceeding $100,000 In Hasbro (NASDAQ:) To Contact Him Directly To Discuss Their Options

If you suffer losses in excess of $100,000 in Hasbro between February 7, 2022, and October 25, 2023 and want to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (Ext. 1310).

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New York, New York–(Newsfile Corp. – December 25, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Hasbro, Inc. (“Hasbro” or the “Company”) (NASDAQ: HAS) and reminds investors of January 13, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the quality of inventory held. by Hasbro, and represents that the increase in its inventory level appears to be unusual and expected. demand, rather than excess supply outstripping declining demand. As a result of these misrepresentations, Hasbro’s common stock traded at artificially inflated prices throughout the Class Period.

The truth began to emerge on January 26, 2023, when the Company previewed its fourth quarter results for fiscal year 2022. Hasbro, which has repeatedly expressed the apparent strength of 2022 holiday season, now admits that revenue will contract by 17% year-over-year. To combat declining sales, Hasbro announced that it would lay off 15% of its global workforce, and at the same time disclosed the immediate departure of its Chief Operating Officer.

These disclosures caused the price of Hasbro stock to drop by $5.17 per share, or more than 8%. However, the defendants continued to make false, reassuring statements to investors about the extent of the inventory build-up.

The truth was further revealed on October 26, 2023, when Hasbro announced its financial results for the fiscal year 2023 third quarter and shocked investors by revealing an 18% decrease in revenues in Consumer Products every year, along with a significant reduction in guidance. for the rest of the year. Hasbro also revealed that it is forecasting “$50-ish million in one-time costs” that will be spent on “move(ing) through inventory at the retailer level, additional sales to move inventory, (and) additional obsolescence costs ” in the Consumer Products segment.

These disclosures caused the price of Hasbro stock to drop another $6.38 per share, or more than 11%.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is substantially and generally among the class members managing and managing the litigation on behalf of the purported class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a non-class member. Your ability to share in any recovery is not affected by the decision to serve as lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information about Hasbro’s conduct to contact the company, including whistleblowers, former employees, shareholders and others.

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/234571