About Craig Zucker, former CEO of the company behind Buckyballs, the popular neodymium magnet toys that were banned by the U.S. Consumer Product Safety Commission in July 2012. Zucker ran a brief campaign to drum up opposition to the government’s ban, but it didn’t turn out to be enough.
Unfortunately for Zucker, the story didn’t end there. Despite the magnets being labeled as not for kids, the Commission filed a motion to find him personally liable for the costs of a product recall, estimated at around $57 million. “Given the fact that Buckyballs have now long been off the market, the attempt to go after Mr. Zucker personally raises the question of retaliation for his public campaign against the commission.
Mr. Zucker won’t speculate about the commission’s motives. ‘It’s very selective and very aggressive,’ he says. … Mr. Zucker says his treatment at the hands of the commission should alarm fellow entrepreneurs: ‘This is the beginning. It starts with this case. If you play out what happens to me, then the next thing you’ll have is personal-injury lawyers saying “you conducted the actions of the company, you were the company.”
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