Planet Toys Inc, facing a potential class action lawsuit over its “CSI” fingerprint kits, has filed a Chapter 7 bankruptcy petition in New York.
In its bankruptcy petition filed on Wednesday, New York- based Planet Toys listed assets in the range of $1 million to $10 million and liabilities in the range of $10 million to $50 million. Under Chapter 7, a bankrupt company typically liquidates and does not reorganize itself.
The nonprofit Asbestos Disease Awareness Organization had sued the company and CBS Corp (CBS.N) last year, claiming they sold toy crime-scene kits based on the hit CBS series “CSI: Crime Scene Investigation” that contained the cancer-causing substance.
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