TORONTO -- Spin Master Corp. (TOY.TO) has settled its lawsuit against Chinese company Alpha Group Co. Ltd. over its Bakugan toys in Canada, the United States and the United Kingdom.
The Canadian toymaker had alleged the magnetic transformation feature in Alpha Group's Screechers Wild! toys infringed on its patents covering its Bakugan toys.
Under terms of the deal, Alpha Group has agreed to stop selling its Screechers Wild! toys in the three countries at the end of the month.
Spin Master's Bakugan toys were launched in 2007 in conjunction with a Japanese-Canadian anime series called Bakugan Battle Brawlers.
The company still has outstanding lawsuits filed against Mattel in Canada, the United States and Mexico.
They allege Mattel's Mecard toys infringe on patents related to the Bakugan toys.