NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until January 13, 2025 to file lead plaintiff applications in a securities class action lawsuit against Hasbro, Inc. (NasdaqGS: HAS), if they purchased the Company’s shares between February 7, 2022, and October 25, 2023, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Hasbro and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-has/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 13, 2025.
About the Lawsuit
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.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
