03/18/2010 05:12 am ET | Updated May 25, 2011

Mattel Lead Suit Settled; Toy Maker Will Pay "Tens Of Millions" For Tainted Toys Made In China

Mattel Inc. and its Fisher-Price unit agreed to settle a class-action lawsuit related to a 2007 recall of millions of toys made in China that were found to contain high levels of lead.

Co-plaintiff lead counsel Whatley Drake & Kallas said in a statement the settlement provides "tens of millions of dollars in monetary relief as well as significant injunctive relief." According to the law firm, Mattel recalled over 14 million toys in the U.S. in 2006 and 2007.

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