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Maxfield & Oberton to stop production of magnetic toy Buckyballs

(Reuters) - Maxfield & Oberton Holdings LLC said it will stop production of the popular magnetic toys Buckyballs this week, months after U.S. regulators had labeled them a safety hazard and issued a stop-sale order.

"100 hours from now, sales of our products will stop and be gone for good... Buckyballs will go the way of Crystal Pepsi and the DeLorean," CEO and founder Craig Zucker said in a statement.

The Consumer Product Safety Commission (CPSC) approved a complaint to stop the New York-based company from selling the items in July because injuries to children who had swallowed them had continued to rise.

Buckyballs are small, powerful round rare earth magnets that are sold as toys and desktop accessories. When children swallow them they can pinch or trap intestines and require surgery to remove, the CPSC said.

(Reporting by Tej Sapru in Bangalore; Editing by Gopakumar Warrier)

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