DEERFIELD BEACH, Fla., Jan 7, 2005 (BUSINESS WIRE) -- Play Along, a division of JAKKS Pacific, Inc. (Nasdaq:JAKK), announced today it has taken immediate steps to address an issue concerning the computer generated registration number on the adoption certificates of its popular Cabbage Patch Kids(R).
The Company said that the computer program used to generate the registration numbers inadvertently included six letters that were combined at random by the program to form inappropriate words which appeared in some of the registration numbers. Play Along sincerely regrets this situation and, in order to eliminate the possibility of a future occurrence, only numbers will be used in the registration numbers on all new certificates. In addition, Play Along is conducting a full review to confirm that there was no wrongdoing by any of its employees, vendors or contractors.
Play Along asks that if you find a Cabbage Patch Kids' registration number containing letters you believe are offensive or inappropriate, to please report the finding directly to the Company by calling toll free 1-866-334-8405 or by emailing firstname.lastname@example.org. A replacement certificate will be issued promptly.
Jay Foreman, President of Play Along, noted that the Cabbage Patch Kids have been around for more than 25 years and have brought a tremendous amount of joy and happiness to millions of families worldwide. "Play Along is honored to have been given the opportunity to represent this wonderful brand. We want to continue to make sure all childhood memories of Cabbage Patch Kids are pleasant ones."
About JAKKS Pacific, Inc.:
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a broad range of toys and leisure products. The product categories include: Action Figures, Arts & Activity Kits, Stationery, Writing Instruments, Performance Kites, Water Toys, Sports Activity Toys, Vehicles, Infant/Pre-School, Plush, Construction Toys and Dolls. The products are sold under various brand names including Play Along(R), Flying Colors(R), Road Champs(R), Child Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a Kite(R) and ColorWorkshop(TM). The Company also participates in a joint venture with THQ Inc. that has exclusive worldwide rights to publish and market World Wrestling Entertainment(TM) video games. For further information, visit www.jakkspacific.com
This press release contains statements that are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, estimates and projections about JAKKS' business based, in part, on assumptions made by its management. These statements are not guarantees of JAKKS' future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to, those described above and the following: changes in demand for JAKKS' products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing and difficulties encountered in the integration of acquired businesses. The forward-looking statements contained herein speak only as of the date on which they are made, and JAKKS does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release.