Hmmm....
Shares of Mattel dropped after they announced they were suddenly cancelling a planned debt sale and disclosing the existence of an “anonymous whistleblower letter.”
morningstar.com/news/marketwat…
Mattel said they were going to launch an investigation into “matters” that were disclosed in the whistleblower letter, but they offered no further details.
The only clue is in this letter that Mattel filed with the SEC recently, which says “On August 6, 2019, Mattel, Inc. (the “Company”) was made aware of an anonymous whistleblower letter” and they canceled their debt sale in order to investigate it.
sec.gov/ix?doc=/Archiv…
I’m wondering if perhaps the DOJ or SEC made them aware and asked them to cooperate. 🤔
I don’t know for sure, of course, but that’s been the case with many other companies...the business cooperates & turns over receipts in exchange for non prosecution of the business itself.
DOJ’s also been paying out to whistleblowers who come forward and provide them with good info.
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