US SEC Says Mattel Agrees to Pay $3.5 Million to Settle Financial Misstatement Charges

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WASHINGTON — The U.S. Securities and Exchange Commission (SEC) said Mattel Inc agreed to pay $3.5 million to settle charges related to financial misstatements in 2017, the agency said Friday.

The SEC is taking legal action against Joshua Abrahams, a former audit partner at PricewaterhouseCoopers LLP, to determine whether he engaged in improper professional conduct and violated auditor independence rules, the agency said. in a press release.

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Mattel’s attorney and the auditor did not immediately respond to requests for comment. (Reporting by Chris Prentice)