October 11, 2007 |
Attorneys for a Michigan pension fund alleged in a shareholder lawsuit that Mattel Inc. had misled investors by delaying the reporting of defects in its toys to federal regulators, The lawsuit also accuses three current members and one former member of Mattel's board of engaging in illegal insider trading by dumping more than $33 million in stock before the company's massive toy recalls in the summer.
September 25, 2007 |
beijing -- China's state media on Monday welcomed U.S. toy maker Mattel's apology over its recalls of Chinese-made toys, saying that although overdue it should help restore the country's sullied export reputation. Mattel apologized in Beijing on Friday for recalling 21 million toys this summer, the majority of which had small magnets that could fall out and be harmful to children if swallowed. The company acknowledged the problem was a design flaw and not the fault of Chinese manufacturers.
September 21, 2007 |
The European Union's consumer chief has asked Mattel Inc. for details of quality control measures introduced since the company's recall of millions of Chinese-made toys, and she warned the company that it faced a major task in rebuilding trust in the industry. Meglena Kuneva told Mattel that she would push for new EU rules if not enough was done to stop dangerous toys from coming to market.
September 13, 2007 |
Testifying to a Congressional panel, Mattel Inc. Chief Executive Robert Eckert said Wednesday that the toy company had upgraded its methods to keep toys safe from excess lead and pointed to overseas contractors as the source of problems that triggered recent recalls affecting more than 20 million toys. "We were let down, and we let you down," Eckert told the Senate Appropriations Subcommittee on Financial Services and General Government.
August 21, 2007 |
A lawyer filed a suit against Mattel Inc. because of recent recalls of toys made in China that might have contained excessive amounts of lead paint, and he is seeking class-action status. Jeffrey Killino said the suit filed in Los Angeles was aimed at forcing the El Segundo-based toy maker to pay for the testing of children who might have gotten lead poisoning from the toys. Mattel declined to comment on the case.
August 15, 2007 |
First it was tens of millions of containers of pet food recalled because of tainted ingredients from China; then it was 1.5 million of the popular Thomas & Friends wood trains, made in China, recalled for lead paint. Two weeks ago, El Segundo-based Mattel Inc., one of the most trusted names in playthings, jolted consumers with warnings that 1.5 million of its Chinese-made Fisher-Price toys also could contain lead paint.
August 8, 2007 |
Mattel Inc. identified the Chinese vendor that made nearly 1 million Fisher-Price toys that were recalled last week because they might contain lead. El Segundo-based Mattel said Lee Der Industrial Co. in Guangdong province made the 967,000 toys sold in the U.S. between May and this month. Mattel last week recalled the plastic preschool toys, including popular Big Bird, Elmo and Dora characters, because they were made with paint found to have excessive amounts of lead.
August 3, 2007 |
Diane Brahams was flummoxed as she stood near the toy-car aisle at a Culver City Toys R Us on Thursday. What would be a safe present for her grandnephew who is almost 3 and loves cars? Not long ago, Brahams wouldn't have thought the paint on a modern, name-brand toy would be a threat. But with this week's recall of nearly 1 million playthings from Mattel Inc.'
July 17, 2007 |
Toy maker Mattel Inc. said Monday that international demand for its Barbie dolls and its Hot Wheels and Matchbox cars offset domestic declines in the second quarter, sending sales up 6.5%. Mattel shares rose on the belief that the company's performance during the period that ended June 30 boded well for the upcoming holiday season. "There's some positives and negatives here, but overall, it was in line with expectations," said Sean McGowan, an analyst at Wedbush Morgan Securities in New York.