Mattel (MAT) will announce another toy recall, this one involving 775,000 products which have too much lead paint.
After heavy criticism from the Consumer Product Safety Commission for putting out information on defective products later than regulations allow, Mattel is making this announcement with the CPSC. Perhaps they can avoid being sued or fined by the government.
The closer that company gets to recalling every toy its ever sold, the further the stock moves down below $22, off its 52-week high of $29.17.
Douglas A. McIntyre