June 12, 2009 / 9:42 PM / 10 years ago

UPDATE 1-Amazon to pay Toys R Us $51 mln settlement

LOS ANGELES, June 12 (Reuters) - Amazon.com Inc (AMZN.O) said on Friday it would pay $51 million to settle legal claims related to Toys R Us Inc’s [TOY.UL] 2004 lawsuit that sought to terminate the retailers’ strategic relationship.

Under the terms of the June 11 settlement agreement, Amazon will pay Toys R Us the $51 million within 45 days of the settlement date, which coincides with Amazon’s third quarter.

Amazon said that substantially all of the one-time payment had been unanticipated and that it would be charged to “other operating expense” in the second quarter.

The settlement also covered a related lawsuit that Amazon.com filed in 2006. (Reporting by Lisa Baertlein; Editing by Ted Kerr)

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