Corporate
Apr. 2, 2011
MGA Sues Banks Over Acquisition
Doll-maker MGA Entertainment Inc. is suing several European banks, claiming they turned a blind eye to accounting fraud at a leading French toy manufacturer, thereby exposing MGA to as much as $428 million in debt from its purchase of the company.
Daily Journal Staff Writer
LOS ANGELES - Toy maker MGA Entertainment Inc. is suing several European banks, claiming they turned a blind eye to accounting fraud at a leading French toy manufacturer, thereby exposing MGA to as much as $428 million in debt from its purchase of the company.
The lawsuit, filed Monday in Los Angeles County Superior Court, alleges fraud, breach of contract and negligence. Among the named defendants ...
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