Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the net settlement funds to eligible Court-approved Claimants who qualified for an award under the Plan of Allocation. A distribution of funds has occurred on the following date/s:
December 27, 2023

Subsequent distributions will occur on a rolling basis.

If you have any questions, please contact the Claims Administrator whose contact information is listed here below:
1-877-379-5987, Info@MattelSecuritiesLitigation.com

The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Proposed Settlement: (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.

Summary of the Action and Settlement

This website relates to a securities class action (the “Action”) brought by the Court-appointed Lead Plaintiffs, DeKalb County Employees Retirement System (“DeKalb”) and New Orleans Employees’ Retirement System (“New Orleans,” and with DeKalb, “Lead Plaintiffs”). Lead Plaintiffs alleged that Defendants violated the federal securities laws by making false and misleading statements and omissions about Mattel’s internal controls and financial results, including by allegedly concealing that the Defendants had made and then concealed misstatements in Mattel’s third and fourth quarter 2017 financial statements.

Lead Plaintiffs and Defendants have settled the Action for $98,000,000 in cash (the “Settlement”). On May 2, 2022, the Court held the Settlement Hearing. On May 18, 2022, the Court entered a final Judgment approving the Settlement and an Order approving the Settlement and Plan of Allocation and awarding attorney's fees and litigation expenses. The deadline for submission of Claim Forms was June 8, 2022, and the processing of claims submitted in the Action has now concluded.

If you are a member of the Class, you are subject to the Settlement. The Class consist of:

all persons and entities who purchased or otherwise acquired the common stock of Mattel from August 2, 2017 to August 8, 2019, inclusive, and who were damaged thereby.

The Class includes a subclass (“PwC SubClass”) consisting of

all persons and entities who purchased or otherwise acquired the common stock of Mattel from February 27, 2018 to August 8, 2019, inclusive, and who were damaged thereby.

Excluded from the Class and PwC Subclass are (i) Defendants; (ii) Mattel’s and PwC’s affiliates and subsidiaries; (iii) the officers and directors of Mattel and PwC and their subsidiaries and affiliates at all relevant times; (iv) members of the immediate family of any excluded person; (v) heirs, successors, and assigns of any excluded person or entity; and (vi) any entity in which any excluded person has or had a controlling interest. Also excluded from the Class and PwC Subclass are any persons and entities who or which excluded themselves by submitting a request for exclusion that is accepted by the Court.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.

On May 2, 2022, the Court held the Settlement Hearing. On May 18, 2022, the Court entered a final Judgment approving the Settlement and an Order approving the Settlement and Plan of Allocation and awarding attorney's fees and litigation expenses. The deadline for submission of Claim Forms was June 8, 2022, and the processing of claims submitted in the Action has now concluded.

The claims administration was completed in October 2023. On October 13, 2023, Lead Plaintiffs filed a motion seeking Court approval to distribute the settlement funds to eligible claimants. On November 22, 2023, the Court approved the motion and the initial distribution of the settlement funds was conducted on December 27, 2023. The second distribution will occur in the second half of 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available. 

How do I obtain more information?

Detailed information about the Action is contained in the Notice available for download on the 'Notice' page on this website. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-877-379-5987 or emailing info@MattelSecuritiesLitigation.com or mailing a letter to:

Mattel Securities Litigation
c/o JND Legal Administration
P.O. Box 91434
Seattle, WA 98111

Inquiries should NOT be directed to the Court or the Clerk of the Court.