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A coalition of states led by Massachusetts has filed an objection in federal court to the company's proposed sale of its customer list.
A federal judge gives the go-ahead for the e-tailer to destroy its highly controversial customer list, according to lawyers and a Disney spokeswoman.
The former advertising agency for the failed e-tailer files a lawsuit against the entertainment giant, saying it was led to believe that it would be compensated for advertisements placed on Toysmart's behalf last holiday season.
Objections to the sale of confidential customer information drive the bankrupt toy e-tailer to temporarily pull its customer list from auction.
The failed dot-com, majority-owned by Disney, is the first online company charged with violating new federal laws protecting children's privacy online.
The Federal Trade Commission files a complaint against failed online store Toysmart.com in federal court accusing the Disney-controlled company of misleading customers.
CNET News.com learns that the privately held online toy retailer is shutting its doors, the latest casualty in a recent downturn of e-tailers.
The online toy industry continues to show signs of a shakeout, as high-level company executives resign or get fired.
Now at the mercy of its majority owner Walt Disney Company, Toysmart.com may need to hold fast to its mission of selling what it considers to be educational and creative toys.
A 7-year-old boy who won a $55,500 college scholarship from Toysmart is now just another creditor owed money by the defunct e-tailer.