Mattel: Investor Suit Properly Dismissed For Lack Of Falsity, Scienter

Mealey's (May 10, 2019, 3:49 PM EDT) -- SAN FRANCISCO — A federal district court did not err in dismissing a shareholder class action against toy maker Mattel Inc. and certain of its current and former executive officers because, as the court found, the lead plaintiff in the action failed to sufficiently plead falsity or scienter in making his federal securities law claims, the defendants argue in an April 26 appellee brief filed in the Ninth Circuit U.S. Court of Appeals (Gilberto Castro v. Mattel Inc., et al., No. 18-56361, 9th Cir.)....