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...

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