Mattel, Investors Cut $98M Deal To End Tax Misstatement Row
By Craig Clough (November 24, 2021, 7:52 PM EST) -- A class of investors accusing Mattel and PwC of misleading them by making a $109 million income tax expense understatement and conspiring to conceal the error urged a California federal judge Wednesday to grant preliminary approval of a $98 million settlement deal.
In an unopposed motion, the class said that the deal calls for up to 25% of the settlement amount to go toward attorney fees, plus litigation expenses up to $1.5 million, saying the settlement is reasonable when the range of potential recoveries is considered.
"Because the proposed $98 million settlement represents an excellent recovery for the class given the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!