Hasbro CEO Cocks and Execs Sued for Alleged Securities Violations

[Argyle King]

I have to admit, seeing a bad news story about WotC that is so esoteric that no one really cares is a refreshing change. Haven't had a good WotC is Evil headline in quite a while.

I'm surprised that it's not getting more attention.

In other threads, people seem rather upset about a variety of things like dinosaur bones or the activities of other companies.

That there is so little commentary on WotC and accusations about the mishandling of Cox is surprising.

 

[Scribe]

I'm surprised that it's not getting more attention.

In other threads, people seem rather upset about a variety of things like dinosaur bones or the activities of other companies.

That there is so little commentary on WotC and accusations about the mishandling of Cox is surprising.

Most people are not worried about financials/stocks.

 

[Paul Farquhar]

I'm surprised that it's not getting more attention

It’s because the suit is so preposterous it makes Hasbro look like the good guys. And nobody wants that.

 

[Argyle King]

Most people are not worried about financials/stocks.

True, but it does potentially impact the products.

Also, given that members of the community show an interest in calling out what is perceived as bad behavior on the part of gaming companies, I had thought allegations of fraud and allegations of intentionally ruining the product would garner more attention.

There are people alleging that Cox personally benefitting from fraudulently inflating stock value because his pay included stock options.

Edited to add a quote from a Yahoo article covering it:

"...the plaintiffs claim Hasbro executives "caused the Company substantial harm by causing it to repurchase its own shares at artificially inflated prices," as Hasbro spent $125 million to repurchase approximately 1.4 million shares of its own stock from April 2022 to July 2022, when share values had been "artificially inflated" by the outpouring of new Magic sets."

 

[Scribe]

True, but it does potentially impact the products.

Also, given that members of the community show an interest in calling out what is perceived as bad behavior on the part of gaming companies, I had thought allegations of fraud and allegations of intentionally ruining the product would garner more attention.

There are people alleging that Cox personally benefitting from fraudulently inflating stock value because his pay included stock options.

Edited to add a quote from a Yahoo article covering it:

"...the plaintiffs claim Hasbro executives "caused the Company substantial harm by causing it to repurchase its own shares at artificially inflated prices," as Hasbro spent $125 million to repurchase approximately 1.4 million shares of its own stock from April 2022 to July 2022, when share values had been "artificially inflated" by the outpouring of new Magic sets."

I'm not interested in whataboutism. Corps messing around with stock/shares? Its not going to move the needle, because again most are not in the stock game, and it doesnt impact...well hardly anyone honestly.

Some of us suspect Magic has been propping up Wizards, who has been propping up Hasbro, for some time. There is no outrage, because this is just confirmation of a long held position.