EL SEGUNDO, Calif.--(BUSINESS WIRE)--
Mattel today issued the following statement regarding Ninth Circuit
Court of Appeals recent decision.
We are pleased that the Ninth Circuit Court of Appeals agreed with
Mattel that the verdict and damages on MGA's toy fair claims must be
reversed, and the claims must be dismissed by the District Court. The
Ninth Circuit's decision vacates the district court's judgment awarding
MGA approximately $172 million, consisting primarily of compensatory and
punitive damages, for the claims MGA made arising out of conduct at toy
fairs. Consistent with the Court's affirmance of the award of fees and
costs against Mattel arising out of the separate copyright claims,
Mattel has taken a reserve of $137.8 million with respect to the fourth
quarter of 2012 to cover these fees and costs.
While MGA can in theory bring a new lawsuit based on its toy fair
claims, we are confident that such a lawsuit will be barred by the
statute of limitations. We look forward to the speedy and final
resolution of this dispute, and will continue to focus our efforts on
successfully competing in the marketplace.
About Mattel
Mattel, Inc. (NASDAQ:MAT) (www.mattel.com)
is the worldwide leader in the design, manufacture and marketing of toys
and family products. The Mattel family is comprised of such best-selling
brands as Barbie®, the most popular fashion doll ever introduced, Hot
Wheels®, Matchbox®, American Girl®, Radica® and Tyco R/C®, as well as
Fisher-Price® brands, including Thomas & Friends®, Little People®, Power
Wheels® and a wide array of entertainment-inspired toy lines. In 2013,
Mattel was named as one of FORTUNE Magazine's "100 Best Companies to
Work For" for the sixth year in a row. Mattel also is ranked among
Corporate Responsibility Magazine's "100 Best Corporate Citizens." With
worldwide headquarters in El Segundo, Calif., Mattel employs
approximately 28,000 people in 43 countries and territories and sells
products in more than 150 nations. At Mattel, we are Creating the Future
of Play. Visit us at www.mattel.com,
www.facebook.com/mattel
or www.twitter.com/mattel
MAT-CORP

Mattel, Inc
News Media
Alan Hilowitz
310-252-6397
Press@mattel.com
or
Securities
Analysts
Drew Vollero
310-252-2703
Drew.Vollero@mattel.com
Source: Mattel, Inc.
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