LeapFrog Settles Securities Class Action For $2.3M

Law360, New York (July 14, 2008, 12:00 AM EDT) -- In a settlement reached with shareholders in a securities class action, electronic toy maker LeapFrog Inc. will pay $2.3 million to settle allegations that it disguised problems caused by competition with Mattel Inc.'s Fisher-Price subsidiary.

The joint motion for approval of the settlement, filed in the U.S. District Court for the Northern District of California on Friday, calls for LeapFrog to pay $2.3 million to settle a class action originally filed in 2003.

The suit, headed up by lead plaintiff Parnassas Fund, alleges that the company...
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