Chris Cocks, CEO of Hasbro, is facing a 76-page lawsuit from shareholders who allege the company is overprinting Magic: The Gathering card sets. The complaint claims this “Parachute Strategy” is meant to patch revenue gaps elsewhere in the company, but at the cost of tanking the value of existing cards and harming the brand’s reputation.

The lawsuit points out that Magic: The Gathering thrives on rare cards, which can fetch thousands on the secondary market. By flooding the market with new sets, Hasbro allegedly undercuts the value of older cards, frustrating collectors and dedicated players. The shareholders argue that this approach could erode player trust and reduce future sales, threatening the brand’s long-term health.

Why this matters for Magic players

If the allegations are true, players and collectors could see their investments lose value fast. The suit claims Hasbro ignored its own “segmentation strategy,” which was supposed to match print runs to demand, and instead printed far more than the market wanted. This glut of product has already sparked “growing frustration” among the community, according to the lawsuit.

The legal filing also accuses Hasbro executives of making “false and misleading statements” to investors and analysts. When questioned about overprinting, the company allegedly denied any such strategy, despite evidence to the contrary. Shareholders say this lack of transparency led Hasbro to buy back its own shares at inflated prices, costing the company nearly $56 million.

What’s at stake for Hasbro and Magic

The lawsuit accuses Chris Cocks and other executives of breaching their fiduciary duties, unjust enrichment, gross mismanagement, and violating the Securities Exchange Act. If the court sides with the shareholders, Hasbro could face major financial penalties and be forced to change how it manages Magic: The Gathering production and communication with investors.

For players, the outcome could affect how new sets are released and how much confidence collectors have in the long-term value of their cards. If Hasbro is forced to scale back print runs, scarcity could return, but so could higher prices and tougher competition for new releases.

The bottom line

• Shareholders allege Hasbro’s overprinting hurts Magic’s value and player trust.
• If the lawsuit succeeds, expect changes to set releases and possibly card pricing.

Image: Source material