Rubik's Cube has been bought by Toronto-based toymaker Spin Mister in a US$50-million acquisition after the company first announced its plan to make the purchase last fall.

"Whether you beat me or I beat you, doesn't matter. Our relationship is enhanced dramatically and our connection is enhanced."

The proposed lawsuit claims the Toronto-based company tricked consumers in a "bait-and-switch" marketing scheme by hyping-up the toy, causing a buying frenzy.

The overwhelming popularity of this season's hottest toy, Hatchimals, has taken many by surprise - including its Toronto-based toymaker, Spin Master.