Mattel Investors Win Class Cert. In $109M Tax Expense Row

By Theresa Schliep (October 7, 2021, 2:51 PM EDT) -- A California federal judge certified a class of investors who have accused Mattel and PwC of misleading them by making a $109 million income tax expense understatement for 2017 and conspiring to conceal the error.

The investors met the requirements for class certification in the dispute, which stems from two now-consolidated suits lodged against Mattel and PwC contending they used accounting tricks to hide the tax misstatement, U.S. District Judge Mark C. Scarsi said in an order Wednesday.

The judge also granted PwC's request to restrict the claims against the auditor to a subclass comprising investors in Mattel who bought stock...

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