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Mega Brands America, Inc. Information

MEGA Brands America, Inc., formerly known as Rose Art Industries, LLC (but still uses the old name sometimes) is an American toy company based in Irvine, California. It sells products primarily under the brands MEGA Bloks, Rose Art, Board Dudes, Write Dudes, MEGA Puzzles and Fuzzy Poster. It is owned by parent company MEGA Brands Inc. a Montreal based company. It has additional operations in Fife, Washington, Lafayette, Indiana and Lewisburg, Tennessee.

The company was established when Isidor Rosen founded the Rosebud Art Company in New York City in 1923.[1] During the '70s, the company renamed itself Rose Art.[2] Rose Art has been a subsidiary of Mega Brands since 2005.[3]

In September 2006, the former owners of Rose Art Industries filed suit against Mega Brands, alleging insider trading by company executives in 2005 and 2006.[4] MEGA Brands counter sued and in November 2009 the parties settled. The Rosens agreed to pay back $17.2 million and forego claims of an additional $54.8 million. [5]

In 2008, Lawrence Rosen, a third-generation owner of Rose Art, started a new toy and art supply company, Cra-Z-Art.[2]

References

  1. ^ "Rose Art Industries Celebrates Its 80th Anniversary". Business Wire. 2003-02-13. http://www.accessmylibrary.com/coms2/summary_0286-22382803_ITM.
  2. ^ a b "About Us". Cra-Z-Art. http://www.cra-z-art.com/about_us.php. Retrieved 2010-01-02.
  3. ^ Katz, Rachel (2005-06-15). "Mega Bloks to Buy Rose Art Industries for $315 Mln". Bloomberg.com. http://www.bloomberg.com/apps/news?pid=10000082&sid=aklMiSNz2do0&refer=canada.
  4. ^ Ross Marowits (2008-09-22). "Suit against Mega Brands officers alleges insider trading". Toronto Star. http://www.thestar.com/Business/article/503803.
  5. ^ Katie Roberts (2009-11-10). "Mega Brands and the Rosens settle lawsuit". Toy News. http://www.toynews-online.biz/news/31847/Mega-Brands-and-the-Rosens-settle-lawsuit.

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