Law360, New York (April 14, 2009, 12:00 AM EDT) -- Toy maker Mega Brands America Inc. has agreed to shell out a $1.1 million civil penalty to quell allegations that it failed to promptly inform the government about the dangers posed to children by the company's Magnetix magnetic building sets, according to the U.S. Consumer Product Safety Commission.
Mega Brands America and its parent company, Montreal-based Mega Brands Inc., are already facing litigation over magnetic toys.
Mega Brands America was formerly known as Rose Art Industries Inc. The CPSC said that in December 2005, Rose Art...
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.