Robbins Arroyo LLP: Hasbro, Inc. (HAS) Misled Shareholders According to a Class Action

SAN DIEGO & PAWTUCKET, R.I.–(BUSINESS WIRE)–$HAS #ClassAction–Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Hasbro, Inc. (NasdaqGS: HAS)
have filed a class action complaint against the company’s officers and
directors for alleged violations of the Securities Exchange Act of 1934
between April 24, 2017 and October 23, 2017. Hasbro, together with its
subsidiaries, operates as a play and entertainment company.

View this information on the law firm’s Shareholder Rights Blog:

Hasbro Accused of Misleading Investors About Impact of Toys “R” Us

According to the complaint, Toys “R” Us, Inc. is one of Hasbro’s biggest
customers, accounting for 9% of the company’s consolidated net revenues
in fiscal year 2016. Although Hasbro was experiencing sales issues in
two key markets and likely knew that Toys “R” Us would file for
bankruptcy and liquidate, Hasbro represented that the company was
well-positioned to deliver profitable growth. Before the extent of the
issues Hasbro faced became publicly known, Hasbro insiders sold $147
million of their personally held Hasbro stock. On September 19, 2017,
Toys “R” Us filed for bankruptcy protection. Then, on October 23, 2017,
Hasbro admitted that the company’s financials had been negatively
impacted by the Toys “R” Us bankruptcy, including a 5% decline in
Hasbro’s U.S. and Canada segment quarterly operating profit. On this
news, Hasbro’s stock fell from the class period high of $115.95 to only
$89.75 per share on October 23, 2017, and has yet to recover.

Hasbro Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock

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Robbins Arroyo LLP
Leonid Kandinov
525-3990 or Toll Free (800) 350-6003


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