Mattel delays 2023 annual report amid 'material weakness' in reporting controls
investing.comMattel (NASDAQ:MAT) announced on Thursday it is delaying filing its annual report for 2023 after spotting certain deficiencies deemed to constitute a «material weakness» in its internal financial reporting controls.
These issues, centered around information technology controls, are not anticipated to significantly affect the financial disclosures in the 2023 annual report, the company said.
Shares of MAT slipped 1.5% in premarket trading Friday.
Last month, the toymaker reported its Q4 and full-year 2023 financial results. Meanwhile, activist investment firm Barington Capital suggested that Mattel consider strategic alternatives for its Fisher-Price and American Girl brands and recommended separating the roles of CEO and chairman within the company.
The company said it will towards submitting the report by March 15 at the latest.
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