NEW YORK, NY, Feb 27 - Toymaker Hasbro on Friday joined hundreds of companies suing for refunds of tariffs paid under President Donald Trump's emergency trade measures, which were deemed illegal by the U.S. Supreme Court last week, according to court documents.
The Play-Doh-maker, which did not disclose how much it has paid in IEEPA tariffs, is requesting full refunds along with interest. The lawsuit joins more than 2,000 similar cases filed in the U.S. Court of International Trade since April.
French beauty group L'Oreal , British vacuum manufacturer Dyson and contact lens maker Bausch + Lomb on Monday filed lawsuits against U.S. Customs and Border Protection over IEEPA refunds. Beanie Babies maker Ty Inc. also filed a similar lawsuit this week.
Hasbro is being represented by law firm Sandler, Travis & Rosenberg, which is also representing Swiss sportswear company On and personal care product maker Conair in their respective IEEPA lawsuits.
Hasbro did not immediately respond to a request for comment.
(Reporting by Arriana McLymore in New York City; Editing by Chizu Nomiyama)
Hasbro, Inc. specializes in the design, production and marketing of games and toys. Additionally, the group is active in the production of films and TV programs. Net sales break down by activity as follows:
- sales of toys and games (93.8%): action figurines and toys, dolls and stuffed toys, traditional toys, electronic toys and games, creative and educational toys and games, card games, etc. sold under franchise brands (Littlest Pet Shop, Magic : The Gathering, Monopoly, My Little Pony, Nerf, Play-Doh and Transformers), under partner brands (Spider-Man, The Avengers, Star Wars, Disney Princess, Disney Frozen, Disney's Descendants, Beyblade, Dreamworks' Trolls, Sesame Street and Yo-Kai Watch), under company-owned brands (Baby Alive, Furreal Friends, Kre-o, Playskool and Playskool Heroes) and other (board games and digital games sold under Dungeons & Dragons, Jenga, The Game Of Life, Operation, Pie Face, Scrabble, Trivial Pursuit, Twister, Fantastic Gymnastics, Speak Out and Toilet Trouble;
- production and sales of film, TV and digital games licenses (2.8%) ;
- other (3.4%).
The United States account for 62.9% of net sales.
This super rating is the result of a weighted average of the rankings based on the following ratings: Valuation (Composite), EPS Revisions (4 months), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Investor
Investor
This super composite rating is the result of a weighted average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), EPS Revisions (1 year), and Visibility (Composite). We recommend that you carefully review the associated descriptions.
Global
Global
This composite rating is the result of an average of the rankings based on the following ratings: Fundamentals (Composite), Valuation (Composite), Financial Estimates Revisions (Composite), Consensus (Composite) and Visibility (Composite). The company must be covered by at least 4 of these 5 ratings for the calculation to be carried out. We recommend that you carefully review the associated descriptions.
Quality
Quality
This composite rating is the result of an average of rankings based on the following ratings: Returns (Composite), Profitability (Composite) and Quality of Financial Reporting (Composite), and Financial Health (Composite). The company must be covered by at least 2 of these 3 ratings for the calculation to be performed. We recommend that you carefully read the associated descriptions.
ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.