The Wall Street Journal: SEC and federal prosecutors want closer look at Mattel’s accounting
Mattel Inc. is facing fresh scrutiny over an internal probe into accounting issues that the toy maker said it resolved last year.
The maker of Hot Wheels cars and Barbie dolls on Tuesday said that both the Securities and Exchange Commission and attorneys from the Southern District of New York have begun to look into the company’s investigation that resulted in plans to change its chief financial officer and restated earnings.
The company, in its annual report, said it is responding to the SEC’s subpoena and requests from the attorneys. A Mattel spokeswoman wasn’t immediately available for comment.
in October announced that its CFO Joe Euteneuer would be leaving after an investigation found shortcomings in the company’s accounting and reporting procedures. The company said that the actions didn’t amount to fraud.
Also popular on WSJ.com: