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Hasbro shares downgraded after class-action lawsuit alleges deception about state of the business
Hasbro Inc. HAS, -1.47% stock was downgraded to hold from strong buy at CFRA after a class-action lawsuit alleges executives deceived stockholders about the state of the business. "Members of retirement systems across the U.S. that bought shares of Hasbro have filed a class-action lawsuit against the toy-maker alleging that Hasbro deceived investors about the financial condition of the company and artificially boosted share prices, while the CEO and CFO sold $147 million in personal shares, according to several unconfirmed reports on November 30," CFRA wrote. Hasbro stock closed down 5.2% on Friday.
![[Bild: HASc1dl1445.png]](https://finviz.com/publish/120318/HASc1dl1445.png)
Hasbro Inc. HAS, -1.47% stock was downgraded to hold from strong buy at CFRA after a class-action lawsuit alleges executives deceived stockholders about the state of the business. "Members of retirement systems across the U.S. that bought shares of Hasbro have filed a class-action lawsuit against the toy-maker alleging that Hasbro deceived investors about the financial condition of the company and artificially boosted share prices, while the CEO and CFO sold $147 million in personal shares, according to several unconfirmed reports on November 30," CFRA wrote. Hasbro stock closed down 5.2% on Friday.
