#technology | Mattel Investors Seek Class Cert. Over Understated Tax Bill

Law360 (May 3, 2021, 10:47 PM EDT) — Mattel investors asked a California federal judge to grant them class status in their securities suit accusing the toymaker of understating its income tax expenses by $109 million for the 2017 tax year, saying courts routinely grant certification in securities cases involving the common questions they face.

The investors said on Friday that Mattel stock was traded in an open, well-developed and efficient market, and that a common methodology may be used to determine the class-wide damages resulting from Mattel Inc. and PricewaterhouseCoopers LLP’s misconduct.

“Like most securities-fraud actions, this one is ideally suited for class treatment because it arises from…

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