Did An Undisclosed SEC Probe Factor In The Departure of Mattel's CEO?
This was originally posted to the Probes Reporter website for our subscribers on Tue, 2015-01-27.
Mattel, Inc. (NASDAQ: MAT): On 06-Sep-2013, we first received information from the SEC suggesting this company was involved in unspecified SEC investigative activity. In May-2014 on-going enforcement proceedings were then confirmed, as indicated below. None of this investigative activity was disclosed at the time.
From the Probes Reporter Database
|Date of SEC Response||Response Type||Company Name||Ticker|
|12-Sep-2012||Nothing Found||Mattel, Inc.||
|6-Sep-2013||Possible Invesigation||Mattel, Inc.||MAT|
|6-Mar-2014||Possible Investigation||Mattel, Inc.||MAT|
|7-May-2014||Confirmed Investigation||Mattel, Inc.||MAT|
We don’t know what the SEC probe confirmed last May was about. We are awaiting word on a request we filed 23-Dec-2014.
As the former CEO was in office in the time period of this undisclosed SEC activity, and as investors find their way forward, we recommend asking the following questions regarding our findings:
- What was the SEC investigating?
- Is it still ongoing?
- To what extent was the former CEO involved in this probe? It's safe to assume the former CEO, the Mattel board, legal counsel, and auditor were at least aware.
- In what way, if any, did the SEC probe contribute to the CEO's departure?
- Why was it not disclosed?
Notes: The SEC did not disclose the details on investigations referenced above. The SEC reminds us that its assertion of the law enforcement exemption should not be construed as an indication by the Commission or its staff that any violations of law have occurred with respect to any person, entity, or security. New SEC investigative activity could theoretically begin or end after the date covered by this latest information which would not be reflected here.
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