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Daily Journal: Probe Into Mattel Now Completed, with Help from O’Melveny & Myers

October 31, 2019

O’Melveny, along with forensic accountants from FTI Consulting, completed an independent investigation into allegations concerning Mattel Inc.’s accounting practices. The investigation found the company’s income tax expenses were understated by US$109 million in the third quarter of 2017 and overstated by US$109 million in the fourth quarter of 2017. The probe came after a whistleblower letter was made public on August 8, stating the auditor was not independent and the company made errors in its 2017 income tax expenses.