Lawsuit claims Hasbro misled investors about Magic: The Gathering cards

A shareholder lawsuit filed in Rhode Island federal court accuses Hasbro executives of misleading investors about the health and sustainability of Magic: The Gathering, Hasbro’s most important and lucrative brand. The lawsuit alleges breaches of fiduciary duty, securities law violations, unjust enrichment, and gross mismanagement tied to Hasbro’s investor disclosures between September 2021 and October 2023. The core argument is that company leaders misled investors about the risks associated with Magic’s growth and made public statements that were “materially false and misleading” on earnings calls between 2021 and 2023.