Hasbro headquarters in Pawtucket, Rhode Island, USA, on November 10, 2023. Hasbro, Inc. is an American multinational conglomerate holding company creating toys and games. Credit: JHVEPhoto/Adobe StockHasbro Faces Shareholder Ire Over 'Excessive' Toy, Game Inventory
“By failing to properly consider the interests of the company and its public shareholders, the Individual Defendants have caused Hasbro to waste valuable corporate assets, to incur many millions of dollars of legal liability and/or costs to defend unlawful actions, and to lose assets from investors and customers who no longer trust the company,” according to the complaint.
February 06, 2025 at 02:44 PM
3 minute read
Hasbro Inc.’s top executives and its board of directors are facing a shareholder complaint in Manhattan federal court for allegedly covering up pandemic-related inventory issues that dropped the company stock when revealed and exposed the company to a securities class action.
Represented by Rigrodsky Law and Grabar Law Office, Dale Lee filed his derivative suit on Wednesday, seeking the federal court’s go-ahead to sue in Hasbro’s stead for what he claims to be a breach of fiduciary duty, unjust enrichment and a waste of corporate assets, as well as violations of Sections 14(a) and 10(b) of the Exchange Act.
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