Ross Stores Inc. has agreed to pay a $500,000 civil penalty to settle allegations that it neglected to tell the Consumer Product Safety Commission that it sold children’s hooded sweatshirts with drawstrings, which pose a threat of strangulation, the agency said Wednesday. The commission alleged the Pleasanton, Calif.-based retailer knowingly sold the products and failed to report it. Retailers, manufacturers and distributors are required under federal law to report to the commission within 24 hours after identifying that a product could be harmful. A company spokeswoman said the store did not knowingly sell products that violated consumer safety regulations and issued an immediate recall when it realized there was an issue.

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