 The former owners of Rose Art, Jeffrey and Lawrence Rosen, offered to purchase it back in April 2008.They then sued company management for insider trading in September 2008, alleging shares were sold prior to the Magnetix recall.Rose Art's base operation was shut down in New Jersey, and in 2010 the company moved its stationery and activities division, with some key employees, to Irvine, California, under new executive Thomas Prichard, a former executive at Crayola, Pixar, and Hasbro.