Overview

A class action lawsuit has been filed against Hasbro, Inc. (“Hasbro” or the “Company”) (NASDAQ: HAS) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Hasbro class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Hasbro’s common stock between February 7, 2022, and October 25, 2023, both dates inclusive (the “Class Period”).  Investors have until January 13, 2024, to seek appointment as lead plaintiff in the Hasbro class action lawsuit.

Hasbro is a leading toy, game, and entertainment company with global reach.  During the Class Period, Hasbro sold a broad selection of consumer products from toys, games, apparel, music, publishing to film, television, animation, and other digital content for Hasbro’s iconic brands including Dungeons & Dragons, Magic: The Gathering, Hasbro Gaming, NERF, Transformers, Play-Doh, G.I. Joe, Monopoly, My Little Pony, and Peppa Pig.

The Hasbro class action lawsuit claims that during the early stages of the COVID pandemic, prior to the start of the Class Period, Hasbro faced an increase in demand as families locked down in their homes, and global supply chain disruptions impacted numerous industries.  In response, Hasbro overpurchased inventory to ensure that it could meet demand.  When the Class Period began, Defendants represented to investors that Hasbro’s inventory was of a high quality and that the Company was appropriately building up its inventory balances to mitigate supply chain risk and meet consumer demand, especially for the 2022 holiday season.  Unbeknownst to investors, Defendants represented that the rising inventory levels reported in the Company’s periodic financial reports filed with the U.S. Securities and Exchange Commission during the Class Period reflected outstanding and anticipated demand, rather than excess supply that outpaced waning demand.

Such representations that Hasbro’s inventories were of high quality and at appropriate levels were false.  In truth, Defendants knew that Hasbro had overpurchased inventory to an extent that significantly outpaced customer demand.

*          *          *

If you purchased or otherwise acquired Hasbro’s common stock between February 7, 2022, and October 25, 2023, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the Hasbro class action lawsuit is January 13, 2024.