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Mattel Investors Want Class Status for ‘Cover-Up’ Allegations

May 3, 2021, 4:08 PM

Mattel Inc. investors who accused the company of engaging in a “cover-up” after making material misstatements in financial results asked a federal judge in California for permission to pursue their suit as a class.

The proposed class includes everyone who acquired the toymaker’s common stock from Aug. 2, 2017, to Aug. 8, 2019, inclusive, according to the motion for certification filed in the U.S. District Court for the Central District of California. The suit also includes allegations against PricewaterhouseCoopers LLP, Mattel’s auditor.

Mattel and PwC moved to dismiss the case, but Judge Mark C. Scarsi rejected their attempt in ...