Build-A-Bear Workshop Inc. agreed to pay $600,000 to settle allegations it failed to promptly report consumer injuries, according to a recent statement by the U.S. Consumer Product Safety Commission (CPSC).

The toy company, based in St. Louis, Mo., sold about 260,000 wooden beach chairs starting in 2001.

Between July 2007 and January 2009, the company received 10 reports of injury yet didn't report them to the CPSC until March 2009, the commission said. Federal law requires companies report product defects within 24 hours.
A recall of the product was issued in May 2009.

"The sharp edges of the chair's folding wooden frame can pinch, lacerate or amputate a child's fingertip if the finger is caught between the frame as the chair is folded," the CPSC said.