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Mealey's Securities/D&O Liability - Investor Sues Mattel, Others Over Allegedly Understated Tax Expense

LOS ANGELES - Toymaker Mattel Inc., certain of its current and former executive officers and its independent auditor understated the company's income tax expense by $109 million in the third quarter of 2017 after misrepresenting Mattel's financial condition and the effectiveness of its internal controls in violation of federal securities law, a shareholder alleges in a class action complaint filed Jan. 31 in California federal court (New Orleans Employees' Retirement System v. Mattel Inc., et al., No. 20-1056, C.D. Calif.).
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