Robbins LLP Urges HAS Stockholders with Large Losses to Contact the Firm for Information About the Hasbro, Inc. Class Action Lawsuit

Class Action Lawsuit Against Hasbro - A class action lawsuit has been filed on behalf of investors who purchased Hasbro common stock between February 7, 2023, and October 25, 2023 [1] - The lawsuit alleges that Hasbro misled investors regarding its inventory levels and failed to accurately represent the quality and appropriateness of inventory levels compared to customer demand [2] - Hasbro experienced a significant buildup of inventory that exceeded customer demand, leading to challenges in inventory management [2] Financial Performance and Guidance - Hasbro reported an 18% year-over-year decline in Consumer Product revenues for Q3 2023, attributed to exited businesses, soft industry trends, and inventory management prioritization [3] - The company revised its full-year guidance for Consumer Product, expecting a revenue decline of 13% to 15%, compared to the previously forecasted 3% to 6% decline [3] - Hasbro disclosed an estimated $50 million in one-time costs related to inventory management, including marketing and obsolescence costs [3] Stock Price Impact - Following the Q3 2023 earnings announcement, Hasbro's stock price declined by$6.38 per share, or 11.7%, from $54.75 to$48.37 [3] Legal and Shareholder Information - Shareholders eligible to participate in the class action must submit their application by January 13, 2025, to serve as lead plaintiff [4] - Robbins LLP, the law firm handling the case, has a history of recovering over $1 billion for shareholders since 2002 [5] - Shareholders can sign up for alerts to be notified of settlements or corporate executive wrongdoing [6]