If since September 2003, you purchased or received a MEGA Brands Magnet Toy you may be eligible to receive a cash payment from a class action settlement.
A class action settlement has been reached in a class action lawsuit against MEGA Brands, Inc., MEGA Brands America, Inc., and Target Corporation (“Target”) (collectively “MEGA Brands” or “Defendants”) pending in the United States District Court for the District Of New Jersey (styled Berry and Doering v. Mega Brands, Inc., et al, Class Action Case No. 2:08-cv-01750-SDW-MCA) alleging, among other things, that certain MEGA Brands’ children’s Magnet Toys are defective as they allegedly contain small magnets that may be become loose, according to the MEGA Brands Magnet Toy Class Action Settlement notice.
The MEGA Brands Magnet Toy class action lawsuit settlement reportedly includes, unless otherwise excluded, all persons who purchased or received one or more MEGA Brands magnet toys listed on Exhibits A, B and C of the class action settlement notice from September 2003 to the present.
The Magnet Toy list can also be found on the settlement website. Toys that are involved in the class action lawsuit include the following toy families Magnimals, Magtastik, Magtastik, Magnetix, Magnaman, Magna-Wheels, Magnaworld, Magna-Bugs, Magna-Saurs, Magnalogs, iCoaster/iPark, Magna-Formers, Spheron, Magna-Bones and Mag-Warriors.
The proposed MEGA Brands Magnet Toy class action settlement reportedly has three main parts: (1) cash payments to Class Members who file valid and timely claims; (2) contributions in the amount of $100,000 in both cash and product to a newly created organization called the “MEGA Brands Foundation,” which will be formed for the purpose of providing services for the benefit of organizations addressing children’s health issues; and (3) payment by Defendants to Plaintiffs’ Lead Counsel attorneys’ fees and expenses up to $3,500,000.
Class members who returned one or more MEGA brands recalled toys as part of a recall program may be eligible to receive $5 for each MEGA brands recalled Toy returned (up to $15 for 3 toys). Class members who have a receipt or some other document that shows the price paid for a magnet toy (store receipts, credit cards receipts or record of purchase) may be eligible for a full cash refund. Class members who have something showing that they had a Magnet Toy may be eligible for a full cash refund of the suggested list price (up to 3 toys). Class members who have a toy part or toy parts but are unable to match to a specific toy or toys listed on Exhibit C may be eligible for payment based on the weight of the toy part. Class members who don’t have any proof that they bought or had a Magnet Toy may be eligible to receive $10 per toy if they submit a declaration affirming that they purchased or acquired one or more of the affected toys.
The Court will hold a Fairness Hearing on December 15, 2011, at 11:00 a.m. before the Honorable Susan D. Wigenton, United States District Court Judge, at the United States District Court for the District of New Jersey Martin Luther King, Jr. Federal Building & U.S. Courthouse, Newark, New Jersey 07102 to consider whether the MEGA Brands Magnet Toy class action settlement is fair, reasonable, and adequate.
For more information on the MEGA Brands Magnet Toy class action settlement, visit the Berry and Doering v. Mega Brands, Inc., et al class action settlement website:
www.MegaBrandsSettlement.com
If You Have Thoughts On The MEGA Brands Magnet Toy Class Action Lawsuit Settlement, Share Your Class Action Settlement Comments Below.