District Court Erred In Dismissing Mattel Stock-Drop Suit, Investor Argues

Mealey's (February 27, 2019, 8:15 AM EST) -- SAN FRANCISCO — A federal district court erred in dismissing a shareholder class action lawsuit against toy maker Mattel Inc. and certain of its current and former executive officers for failure to plead falsity with the requisite particularity and scienter because the lead plaintiff sufficiently claimed that the defendants issued material misrepresentations concealing their involvement in a channel-stuffing scheme, the lead plaintiff argues in a Feb. 25 appellant brief filed in the Ninth Circuit U.S. Court of Appeals (Waterford Township Police and Fire Retirement System, et al. v. Mattel Inc., et al., No. 18-56361, 9th Cir.)....