Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In JAKKS Pacific, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at JAKKS Pacific, Inc. (“JAKKS” or the “Company”) (NASDAQ: JAKK).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the shift in children’s preferences toward electronic games were having a detrimental impact on demand for the Company’s more traditional toys; and (2) JAKKS’ poor toy sales were having a heavy negative impact on the Company’s licensed toy properties.
After market close on July 17, 2013, JAKKS shocked the market when it slashed the Company’s full-year forecast for revenues and earnings. The Company cited poor sales caused by a shift in children’s playing choices in favor of electronic devices. Moreover, the Company stated that it would suspend its dividend and implement a major restructuring and downsizing plan. On this disappointing news, JAKKS shares fell $4.48 or approximately 39% percent from a close of $11.48 per share on July 17, 2013, to a close of $7.00 per share on July 18, 2013.
If you invested in JAKKS stock or options between July 17, 2012 and July 17, 2013 and would like to discuss your legal rights, please contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding JAKKS’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Richard W. Gonnello
Faruqi & Faruqi, LLP
369 Lexington Avenue 10th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.