Faruqi & Faruqi Reminds Hasbro Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of January 13, 2025 - HAS

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Hasbro, Inc. due to alleged violations of federal securities laws, particularly concerning misleading statements about inventory levels and demand [2][4]. Group 1: Allegations and Misrepresentations - The complaint alleges that Hasbro and its executives made false and misleading statements regarding the quality of inventory, claiming that rising inventory levels indicated strong demand rather than excess supply [4]. - As a result of these misrepresentations, Hasbro's stock traded at artificially inflated prices during the class period [4]. Group 2: Financial Disclosures and Impact - On January 26, 2023, Hasbro revealed a 17% year-over-year revenue contraction for the fourth quarter of fiscal year 2022, leading to a layoff of 15% of its global workforce and the departure of its Chief Operating Officer [5]. - Following this announcement, Hasbro's stock price dropped by $5.17 per share, over 8% [6]. - On October 26, 2023, Hasbro disclosed an 18% decline in Consumer Product revenues year-over-year and forecasted significant costs related to inventory management, causing the stock price to decline by another $6.38 per share, over 11% [7][8]. Group 3: Legal Proceedings - Investors who suffered losses exceeding $100,000 in Hasbro between February 7, 2022, and October 25, 2023, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1]. - There is a deadline of January 13, 2025, for investors to seek the role of lead plaintiff in the federal securities class action against Hasbro [2].