Mattel pays $50 million for selling lead-tainted toys

Mattel Inc. and its Fisher-Price subsidiary have agreed to pay potentially more than $50 million to settle a consumer class action over the lead tainted toys. The proposed settlement, filed in federal court in Los Angeles, will resolve 22 consolidated lawsuits by providing refunds or other reimbursement to consumers who purchased toys that were recalled or pulled off the shelves. The settlement comes a year after Mattel and Fisher-Price agreed to pay $12 million to 39 states to end an investigation into contaminated toys. More recently, Mattel in June of this year, agreed to pay another $2.3 million civil penalty for violating a federal lead-paint ban.