Class Action against Mattel

The firm of Kaplan, Kilsheimer & Fox LLP has brought a class action lawsuit against Mattel in relation to Mattel's merger with The Learning Company. The suit, brought on behalf of shareholders, charges that Mattel violated the Securities Exchange Act of 1934 by providing financial information that was false and misleading due to improper accounting and by failing to disclose problems with the financial information. The suit seeks to recover for shareholder the value lost when The Learning Company's true financial state came to light and caused a drop in Mattel's share price.