U.S. SEC says Mattel agrees to pay $3.5 million to settle charges relating to financial misstatements

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The SEC is initiating litigation 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 statement.

Counsel for Mattel and the auditor did not respond immediately to requests for comment.