Lawsuits And (Possible) Layoffs: Bad Times For Hasbro

A number of sources are reporting on some developing situations with the corporate face of Hasbro this week. A class action lawsuit has been filed based on accusations of possible securities fraud or "other unlawful business practices." In short, the suit is claiming that Hasbro presented misleading or materially false information regarding business performance that led to harm to investors. Other reports this week point to layoffs coming to Hasbro's workforce, though Hasbro themselves have not referred to the situation as such thus far.

Reports cite Hasbro's representatives confirming that "difficult changes" are in progress, which they say affect a single-digit percentage of their total employees, reported to number approximately 5,000 worldwide. In the worst case, this could mean that in excess of 400 workers' jobs are at risk. Meanwhile, in the situation of the class action suit, Hasbro has denied any merit to the claims and is preparing to defend against the action.

This article summarizes information from Providence Journal, WPRI.com, GoLocalProv, and MarketWatch.





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