Press release from Business Wire
Zeldes Haeggquist & Eck, LLP Announces Investigation of JAKKS Pacific, Inc.
Thursday, August 15, 2013
Zeldes Haeggquist & Eck, LLP Announces Investigation of JAKKS Pacific, Inc.09:01 EDT Thursday, August 15, 2013
SAN DIEGO (Business Wire) -- Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into JAKKS Pacific, Inc. (“JAKKS Pacific” or the “Company”) to determine whether the Company's Officers and Directors have breached their fiduciary duties owed to the Company and its shareholders.
JAKKS Pacific (NASDAQ: JAKK) develops, manufactures, and markets toys. On July 18, 2013, the Company announced weaker than expected financial results. In addition to drastically reducing its 2013 revenue, profit and earnings guidance, the Company experienced disappointing results in two key product lines. At the same time the Company announced a plan to suspend the Company's 7¢ per share quarterly cash dividend.
On this news, the price of JAKKS Pacific stock dropped from $11.48 on July 17, 2013 to close at $6.99 on July 18, 2013. We are investigating whether directors and officers of JAKKS Pacific violated federal securities laws or breached their fiduciary duties in connection with the above.
What You Can Do
If you are a JAKKS Pacific shareholder and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at firstname.lastname@example.org. There is no cost to you.
Zeldes Haeggquist & Eck is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information about the firm.
Zeldes Haeggquist & Eck, LLP
Amber L. Eck, 619-342-8000