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A stock selloff by Mattel executives in the wake of the blockbuster “Barbie” film has raised eyebrows and “red flags” among some Wall Street watchers.

The stock sales, while perfectly legal experts stressed, may mean Mattel’s brass believe the pink tide that lifted the company’s value has crested, according to VerityData, an investment research firm that tracks insider buying, selling and buyback activity.

When we see insiders selling aggressively into the the rise of the stock it raises red flags about the sustainability of this stocks valuation, Ben Silverman, director of research for VerityData, told The Post.

Mattel’s stock is up about 21% this year, fueled by the buzz around “Barbie,” which was released July 21 and has since grossed more than $1 billion.

Five senior Mattel executive sold 275,800 shares over the past 10 days according to government filings. The average sale price of $21.21 netted them about $4.2 million, according to VerityData.

The trades stand out, Silverman said, because Mattel insiders rarely sell their shares.

Since July 31, Mattel officers have dumped more shares than the 248,000 sold by insiders in the previous 9.5 years, Silverman said.

Three of the Mattel executives were first-time sellers, including head of human resources, Amanda Thompson, who joined the company  in 2017, Jonathan Anschell, who has been the companys legal counsel since 2021 and Yoon Hugh, the companys controller since 2019, VerityData found.

The others include Steve Totzke, president and chief commercial officer, and Roberto Isaias, Mattel’s chief supply chain officer, according to the firm.

All the trades were made days after the company reported its financial results on July 26, avoiding any legal impropriety but not scrutiny.

Seeing five executives trading all at once, raises questions, said Thomas Gorman, a former SEC official and current partner in law firm Dorsey & Whitney. You dont usually see that kind of a pattern coming out of a sophisticated company like Mattel.

The selloff could suggests that the pop in Mattels stock may not be sustainable, according to VerityData.

We are telling our clients that insiders are sending a message that the stock is over-valued, Silverman said.

Even before the movie was released, Wall Street experts questioned Barbie’s halo effect on the Segundo, Calif-based toy giant.

“We worry somewhat about Mattel’s long-term management of Barbie’s positioning,” wrote DA Davidson analyst Linda Bolton Weiser in a July 17 note, recalling a period 10 years ago when moms were “anti-Barbie.”

The trades by the insiders also come after longtime Mattel chief operating officer Richard Dickson known as the Barbie whisperer quit the company to take over struggling retailer Gap. 

Mattel declined to comment.

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Entertainment

BBC chair Samir Shah’s letter to MPs – key points

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BBC chair Samir Shah's letter to MPs - key points

BBC chair Samir Shah has written a detailed letter to MPs following controversy over the editing of a speech by Donald Trump.

Following a backlash, both BBC director-general Tim Davie and BBC News chief executive Deborah Turness have both stepped down from their roles.

Mr Trump is also understood to have threatened the corporation with legal action over the editing together of two pieces of video from his speech on 6 January 2021 in the BBC’s flagship late-night news programme Panorama.

While the original programme received no complaints, Mr Shah confirmed in his letter that over 500 complaints had been received since a memo from former independent adviser to the BBC’s Editorial Guidelines and Standards Board, Michael Prescott, was leaked to The Daily Telegraph.

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In his memo, Mr Prescott detailed what he called “worrying systemic issues with the BBC’s coverage”, also discussing other coverage, including trans issues, and the war in Gaza.

Mr Prescott specifically mentioned Ms Turness and deputy director of BBC News, Jonathan Munro in his memo, calling them “defensive”.

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File pic: AP

An apology – by denial of a cover-up

In his four-page letter of response to the Culture, Media and Sport Committee, Mr Shah said following “deliberation”, the board “accept that the way Mr Trump’s speech was edited did give the impression of a direct call for violent action”, calling it an “error of judgement”.

He also noted that some coverage of the memo leak, implied a list of stories and issues had been “uncovered”, which the BBC had sought to “bury”.

Mr Shah said that interpretation was “simply not true” and urged for a “sense of perspective” to be maintained when considering the “thousands of hours of outstanding journalism” the BBC produces each year.

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‘Trump is undermining the BBC ‘

Changes in leadership

The BBC chair also said the view that the BBC “has done nothing to tackle these problems” is “simply not true”.

Mr Shah admitted there were occasions “when the BBC gets things wrong” or “reporting requires more context or explanation”.

Read more:
Who is Michael Prescott?
Trump reacts to BBC resignations – and doesn’t hold back

Raising the point that the information relied on by Mr Prescott for his memo was the very research commissioned by the BBC’s Editorial Guidelines and Standards Committee (EGSC), he said the memo “did not present a full picture of the discussions, decisions and actions that were taken”.

Mr Shah detailed changes in leadership across the BBC Arabic team, as well as changes in World Service and BBC News – all of which he said would help tackle the issues raised.

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BBC boss ‘right to resign’

So what is being done?

At the end of the letter Mr Shah committed to three actions:

• “The board will commit to revisiting each and every item set out in Michael Prescott’s note and take further action where appropriate. We will be transparent about the conclusions we reach, and the actions taken.”

• “Where we have put in measures already, in response to the original EGSC research, we will repeat those internal reviews to check the changes made are making material improvements to the output.”

• “Where we have already accepted that items fall short of our editorial standards, we will ensure that amendments to the relevant online stories are made where this was deemed appropriate.”

Mr Shah concluded by saying the BBC would “champion impartiality”, which he said was “more necessary now than ever before”, calling it the “sacred job of the BBC”.

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Sports

Report: Kelly rejected LSU buyouts, seeks $54M

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Report: Kelly rejected LSU buyouts, seeks M

Former LSU football coach Brian Kelly rejected two financial settlement offers from the university, and his attorneys have given LSU officials a Monday deadline to confirm in writing that they’ll pay him the $54 million he’s owed under the terms of his contract.

Kelly, who was fired on Oct. 26, was in the fourth season of a 10-year, $95 million contract.

According to documents obtained by the Baton Rouge Advocate, former LSU athletic director Scott Woodward offered Kelly a lump-sum payment of $25 million on the day he was fired. Woodward also offered to remove the mitigation language in Kelly’s contract, which would have reduced the buyout amount if he coached again.

LSU executive deputy athletic director Julie Cromer later increased the settlement offer to $30 million in two payments, according to the documents.

Kelly, who had a 34-14 record at LSU, rejected both offers, according to the report.

In a Nov. 5 letter to new LSU athletic director Verge Ausberry and Board of Supervisors member John Carmouche, Kelly’s attorneys said they want university officials to confirm by 6 p.m. ET Monday that the school intends to “fulfill its contractual obligation” to pay Kelly the “full liquidated damages.”

“Absent this written confirmation by that date, Coach Kelly will pursue all available legal remedies,” the letter said.

Kelly’s attorneys said in the letter that LSU officials previously confirmed that the coach was fired without cause, meaning he would be owed 90% of his remaining compensation.

If a lesser amount isn’t negotiated, the university would owe Kelly $54 million in monthly payments through 2031, minus any future salary he receives in coaching.

Kelly’s lawyers told LSU officials that the coach was still “open to additional offers” if the university provided written confirmation that it intends to pay the $54 million he’s owed.

Woodward, who oversaw LSU’s athletic department since 2019, stepped down from his position Oct. 30, a day after Louisiana Gov. Jeff Landry criticized him for giving Kelly such a one-sided contract. Landry also suggested that Woodward wouldn’t select the Tigers’ next football coach.

“We are not going down a failed path. And I want to tell you something: This is a pattern,” Landry told reporters during a news conference at the state capitol on Oct. 29. “The guy that’s here now that wrote that contract cost Texas A&M 70-some million dollars. Right now, we’ve got a $53 million liability. We are not doing that again. And you know what? I believe that we’re going to find a great coach.”

Landry criticized Woodward for agreeing to a similar one-sided coaching contract when he was Texas A&M‘s athletic director. The Aggies owed football coach Jimbo Fisher more than $76 million when they fired him in November 2023, which was nearly triple the highest-known coaching contract buyout at a public school at the time.

However, it was Ross Bjork, who succeeded Woodward at Texas A&M in 2019, who gave Fisher a four-year extension just before the 2021 season that made his 10-year deal worth more than $90 million. Woodward originally gave Fisher a 10-year, $75 million contract when he was hired away from Florida State.

Ausberry, LSU’s former deputy athletic director, was named interim AD and then promoted to replace Woodward on Nov. 4.

Frank Wilson is LSU’s interim coach. The Tigers lost 20-9 at No. 4 Alabama on Saturday, dropping their record to 5-4.

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Politics

Ex-Labour MP Zarah Sultana at centre of new party row over £800k in donations

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Ex-Labour MP Zarah Sultana at centre of new party row over £800k in donations

Donations being held by Zarah Sultana will be transferred over to Your Party in tranches from this week, Sky News has been told, but the party stand-off remains.

Ms Sultana has sole control of over £800,000 of Your Party donations following an internal fallout.

Her spokesperson told Sky News £600k would be transferred over in three tranches starting with £200k from Wednesday, and the rest “once the company’s costs, expenses and liabilities are settled in full”.

But a Your Party source told Sky News she should transfer the full £800k worth of donations now.

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It follows a major row over finances behind the scenes of the new left-wing party, which Ms Sultana co-launched with Jeremy Corbyn in July.

At the time, a company called MOU Operations was used to collect donations, with the idea this would be transferred over to Your Party once it was formally registered with the Electoral Commission.

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The registration happened on 30 September, but no transfer of funds has been made – despite Ms Sultana stepping in to take ownership of MOU last month after its previous three directors quit.

MOU is holding around £800k of donations in total, as well as around £500k in fees collected as part of Ms Sultana’s unauthorised membership launch, Sky News understands.

Ms Sultana’s spokesperson said £600k would be transferred over in three tranches, and the rest “once the company’s costs, expenses and liabilities are settled in full”.

The Your Party source told Sky News that Ms Sultana has been told Your Party can’t accept the money related to her membership launch due to legal risks and accused her of trying to “offload” it.

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Can Your Party get it together?

Ms Sultana agreed to take over MOU to break a standoff between Your Party and the company’s previous three directors – former Labour MP Beth Winter, former Labour mayor Jamie Driscoll and former South African politician Andrew Feinstein.

The trio set up MOU in April to assist with a new left-wing party centred around Mr Corbyn but resigned on 29 October, claiming the role of holding donations had been “thrust upon” them and raising concerns about a “lack of appropriate governance” within Your Party.

The statement said they hadn’t transferred over the funds because they were worried about legal liabilities and wanted Your Party to take over the company instead – but five of the six founding MPs refused.

Ms Sultana said her stepping in would “bring the chapter to a close” and “these resources will now be used for Your Party, as was always intended”.

However that angered some within Your Party who say this is a mess of her own making because of the membership fiasco, which is still being investigated by the Information Commissioner’s Office.

‘Low trust environment’

While Mr Corbyn and Ms Sultana have since patched things up, one Your Party source described operating in a “low trust environment”.

Senior Your Party figures have accused Ms Sultana of deliberately withholding MOU’s funds for political leverage despite privately and publicly committing to the transfer. Organisers expressed frustration at operating on a “shoestring” ahead of the founding conference at the end of this month.

However, allies close to the Coventry South MP have dismissed the “hostile briefings” and insist she has been conducting “due diligence” before sending the money over.

Sky News understands Ms Sultana has been seeking Your Party’s constitution and financial scheme as registered with the Electoral Commission, to help her understand the party’s governing structures.

A source close to her claims there has been an unwillingness to share the documents from within Your Party, so she has requested them from the elections watchdog directly.

It is not clear who wrote the documents and who is controlling access to them – or why one of the party’s founders should not be able to see them.

A spokesperson for Ms Sultana said: “Zarah did not choose to become the sole director of MOU Operations Limited, but was prepared to take on this responsibility to ensure funds are transferred as quickly as possible and preparations for the founding conference can progress.

“As sole director, she is legally responsible for ensuring the company’s costs, liabilities and expenses are settled, and this process may take some time. To ensure funds are available for the founding conference, she will transfer £600k in tranches over the next couple of weeks. The first £200k is scheduled to be sent 12 November.

“All remaining funds will be transferred once the company’s costs, expenses and liabilities are settled in full.”

A Your Party spokesperson said: “We are completely focused on putting together a successful founding conference for our members, so they can democratically decide Your Party’s structures and programme, and Britain can get the socialist alternative it so badly needs. Hundreds of volunteers are working tirelessly on a shoestring budget to make this a reality, a testament to the grassroots power of our mass movement.”

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