Advertisement

FOR THE RECORD - April 29, 2009

Share

MGA Entertainment: An article in Business on Tuesday about a federal court ruling placing MGA Entertainment Inc. into temporary receivership said a judge’s order stated that MGA and its chief executive, Isaac Larian, were involved in fraudulent transfers of assets and violations of Mattel’s ownership rights. In fact, the order made no outright finding of fraudulent activity. The order stated that “good cause exists to believe that the MGA parties . . . and Isaac Larian . . . have engaged in, are engaging in or are about to engage in transactions, acts, practices and courses of business that constitute fraudulent transfers of assets and violations of Mattel’s ownership and other rights in and to the Bratz brand and Bratz assets.”

Advertisement