Fraud Case Against Hasbro

[Vacrix]

Yeah.. uhhh its not people bitching, Coolstorybro has been committing fraud. Lots of it.

A fireside chat and a 12 million dollar bonus?
Orcish Paratroopers was his mainline.
Its hard to take a guy named Cocks seriously in the first place. Still not sure how this happened.

https://www.golocalprov.com/business...ies-violations
https://rhodeislandcurrent.com/2026/...thering-cards/


In the 76-page complaint filed in the U.S District Court of Rhode Island on Wednesday, plaintiffs Joseph Crocono and Ultan McGlone, who say they have been Hasbro shareholders who have held common stock since 2020 and 2021, respectively, claim that the company’s public statements were “materially false and misleading” on shareholder calls between 2021 and 2023.

“In order to account for shortfalls in other elements of the Company’s businesses, new Magic sets would thus be “parachuted in” to provide additional revenue. As such, the explosive growth in the Magic business noted just prior to and during the Relevant Period was in fact the result of the Parachute Strategy,” says the lawsuit.

“The BofA Report observed that ‘Magic sales nearly doubled over the course of the pandemic’ and that ‘Hasbro has kept the growth going with more frequent set releases, more product in each set and wider distribution.’ The BofA report further stated that the ‘increased supply’ of Magic had ‘caused distributors, collectors and local game stores to lose money on Magic,’” according to the lawsuit.


A former Wizards employee — dubbed “FE 1” in the complaint — alleges that Wizards began overprinting cards in 2018, effectively as an offset for shortfalls in Hasbro’s weaker-performing sectors. According to FE 1’s testimony, this so-called “parachute strategy” led the company to release sets of cards that were “intended to provide roughly $40 million to $80 million” that could compensate for shortfalls elsewhere.

"That was bad news for Hasbro, which in 2022 had spent approximately $125 million to “repurchase approximately 1.4 million shares of its own common stock at artificially inflated prices,” the complaint argues, leading the toymaker to overpay for its own stock by about $55.9 million."

A different anonymous employee, FE 6, alleges that he and other Wizards staff “viewed photographs of Magic Anniversary Sets dropped off at a Texas landfill alongside older Magic products.”




Anyway... maybe we'll get our game back soon, get a real CEO, maybe they'll sell it to Disney, etc.

[Vacrix]

These guys have needed bad press for eons.
Because good people still work there.
Best of luck to those who still give a shit.
Its fast becoming the most well known, poorly managed company.


3 years on from laying off over 1,000 people, Hasbro and Wizards of the Coast are sending daily emails and physical letters encouraging the survivors to not unionise
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https://www.pcgamer.com/gaming-indus...-not-unionise/
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Late last month, WoTC employees from the Magic: The Gathering Arena team announced their intention to form a union, giving the company until May 1 to recognise it voluntarily. Neither Hasbro nor Wizards of the Coast did so.

"Since the announcement of our union," reads the site linked above, "Wizards of the Coast has hired Fisher Phillips (a union avoidance firm), and chosen to engage in a daily union-avoidance campaign with emails sent to the Arena team intent on spreading misinformation and sowing fear among employees."

Those daily emails have now escalated to physical letters, per several WoTC employees on Bluesky: "For two weeks, arena folks have been getting daily anti-union emails from the company fearmongering about how scary unions are," writes Xib Vaine, a producer on MTG Arena. "Now, they're sending letters to our homes."



Fan unwittingly scores new Magic: The Gathering cards early before Wizards of the Coast gets 19th century on his ass: 'The Pinkertons took everything.'
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https://www.pcgamer.com/fan-unwittin...ok-everything/
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Oldschoolmtg showed off this effective early preview on his YouTube channel, which got picked up by other MTG content creators and eventually came to the attention of Wizards of the Coast. That's where the Pinkertons, contracted by Wizards, come in. The private detective agency is infamous in US history as a source of union infiltrators and violent strike breakers in the first great waves of labor unrest in the 19th century. Gamers may be familiar with them as Booker DeWitt's employer or perhaps the archnemeses of the Van Der Linde Gang (a portrayal the agency sued over, for the record). They declined in relevance as law enforcement practices evolved, but still exist today as a subsidiary of the Swedish firm Securitas AB.

Back to oldschoolmtg, the YouTuber surrendered the Aftermath set to the Pinkerton agents, who he describes as "big heavy hitter guys" who referred to the set as "stolen product" and warned him of potential arrest and legal action. Oldschoolmtg was put in contact with a Wizards of the Coast representative he characterizes as "nice and apologetic for making my wife cry first thing in the morning." Oldschoolmtg further explained that he will be at least partially compensated by Wizards of the Coast, and that the company wanted the product back primarily to help trace the leak in their own distribution.




Spread the word; bad press is good for MTG.