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https://www.forbes.com/sites/jimosman/2019/10/22/-mattel-federal-securities-probe-bankruptcy/#7febd8af5cb8
>The company, which unleashed the iconic Barbie brand to the world 60 years ago, is struggling with its $3 billion debt and is facing a probe as to whether it violated federal securities laws.
>It has lost two-thirds of its value over the past three years and has a mountain of trouble as it tries to turn itself around with rapidly declining sales, operating losses, high-profile executive departures, and losing $531 million on sales of $4.5 billion last year.
>If hedge funds, who are by far the biggest investors, pull out amid the propagation of recession fears, MAT’s stock could go to zero, says The Edge (who source underperforming companies for activist involvement, Special Situations and Spinoffs).
>After former CEO Margaret Georgiadis stepped down only 13 months in the job, new CEO Ynon Kreiz took over in April 2018 and has been criticized for his $18.7 million pay packet.
>Kreiz rejected a buyout offer from rival MGA Entertainment in June and is currently overseeing the third biggest crisis ever to hit the company. A whistleblower halted its planned bond sale in August, igniting a collapse in the share price while at the same time sparking a securities fraud probe which may have serious consequences for the board.
>The company, which unleashed the iconic Barbie brand to the world 60 years ago, is struggling with its $3 billion debt and is facing a probe as to whether it violated federal securities laws.
>It has lost two-thirds of its value over the past three years and has a mountain of trouble as it tries to turn itself around with rapidly declining sales, operating losses, high-profile executive departures, and losing $531 million on sales of $4.5 billion last year.
>If hedge funds, who are by far the biggest investors, pull out amid the propagation of recession fears, MAT’s stock could go to zero, says The Edge (who source underperforming companies for activist involvement, Special Situations and Spinoffs).
>After former CEO Margaret Georgiadis stepped down only 13 months in the job, new CEO Ynon Kreiz took over in April 2018 and has been criticized for his $18.7 million pay packet.
>Kreiz rejected a buyout offer from rival MGA Entertainment in June and is currently overseeing the third biggest crisis ever to hit the company. A whistleblower halted its planned bond sale in August, igniting a collapse in the share price while at the same time sparking a securities fraud probe which may have serious consequences for the board.
