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The case, filed by former Attorney General Marc Dann in April 2007, was considered a long shot but with a potentially huge payoff for thousands of Ohioans whose homes had lead paint before it was outlawed in 1978.

"I understand and strongly agree that exposure to lead paint is a very real problem," Cordray said in a statement announcing the dismissal. "But I also know that not every problem can be solved by a lawsuit."

The case, pending in Franklin County Common Pleas Court, targeted companies that had made lead paint as well as the parent companies of long-defunct manufacturers.

The case alleged that the manufacturers knew about, or should have known about, the health hazards of lead, which include developmental disabilities, mental retardation and even death.