Hasbro Faces Shareholder Lawsuit

(Pawtucket, RI)  --  Hasbro and its chairman and CEO Brian Goldner are being sued by members of retirement systems.  A lawsuit was recently filed in federal court in Providence by the police and fire retirement system of the city of Warren, Michigan on behalf of all purchasers of Hasbro stock between April and October of 2017.  It alleges that Hasbro downplayed the poor financial condition of Toys-R-Us, was experiencing undisclosed adverse sales issues in the United Kingdom and Brazil, and that the company artificially inflated the price of Hasbro stock to allow Goldner and other executives to sell off more than 147-million dollars in shares.  A spokesperson told The Providence Journal on Wednesday that the claims have no merit.


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