Last November we reported on a class action settlement filed against Mattel, Inc., alleging the toy maker sold toys that contained excessive levels of lead, lead paint or magnets that could become loose. Last week a federal judge approved the class action settlement.

Millions of toys were recalled or removed from store shelves in 2007 due to these safety concerns. Under the settlement, parents and guardians who purchased the recalled toys are entitled to a refund and may be reimbursed medical expenses if they had their child tested for lead within six weeks of the recall announcement. Mattel has also agreed to donate $275,000 to the National Association of Children’s Hospitals and Related Institutions.

You have until May 29, 2010 to file a claim. For more information or to see if you qualify, visit: www.mattelsettlement.com.