The lawsuit alleging that Hasbro overprinted Magic: The Gathering cards has been voluntarily dropped by the shareholders who initially filed it.
Back in January, two Hasbro shareholders, Joseph Crocono and Ultan McGlone, filed a 76-page shareholder derivative complaint on behalf of the company against 14 executives, including CEO, Chris Cocks. The lawsuit alleged that Hasbro and Wizards of the Coast (WotC) were “…overloading the market with Magic sets to generate revenue and to offset shortfalls within the Company” and had also repurchased approximately “1.4 million shares of its own common stock at artificially inflated prices between April 2022 and July 2022.”
Statements from an anonymous former employee (designated as FE 1 in the documents) further alleged that Hasbro and Wizards began overprinting Magic sets beginning in 2018 as part of “Project Parachute” which established a formula for Magic sets to be “rapidly produced and released to generate roughly $40 and $80 million in the event of shortfalls in other Company businesses.”
The lawsuit, which has been “voluntarily dismissed, without prejudice, against [the] Defendants…” as of February 17, 2026, did not cite a reason for the dismissal and can be refiled in the future.
Read the original article from Rhode Island Current.
