Failure To Plead Falsity Leads To Dismissal Of Claims In Mattel Stock-Drop Suit

(February 5, 2020, 9:14 AM EST) -- LOS ANGELES — A federal judge in California on Jan. 21 granted a motion to dismiss in a securities class action lawsuit against toy maker Mattel Inc. and two of its senior executives, ruling that the lead plaintiffs failed to sufficiently plead falsity in arguing that the defendants misrepresented the company’s business and financial condition in violation of federal securities laws (Carol Wyatt, et al. v. Mattel Inc., et al., No. 19-1646, C.D. Calif., 2020 U.S. Dist. LEXIS 13012)....