Hasbro (Nasdaq: HAS) shareholders filed a 76-page federal lawsuit on January 21 against company executives, alleging they misled investors about Magic: The Gathering’s growth while overproducing cards to mask financial problems in other divisions. Shareholders Joseph Crocono and Ultan McGlone accuse Hasbro CEO Chris Cocks, former Wizards of the Coast president Cynthia Williams, and multiple board members of breaching fiduciary duties. The lawsuit states that Hasbro was printing Magic sets exceeding consumer demand to generate revenue and offset shortfalls elsewhere. Wizards of the Coast tweeted in 2022 that the product was unavailable, implying immediate sellout. Hasbro has not publicly responded to the lawsuit, which was filed weeks before the company’s February 10 earnings call addressing fourth-quarter 2025 results.