Error using optimset lsqnonlin

Hi,
I have been using an older version of MATLAB with optimization toolbox but recently upgraded to MATLAB 2014b with Optimization Toolbox 7.1
However, I have a code that uses the following function call optimset('lsqnonlin');
It gives me the following error message:
No default options available for the function 'lsqnonlin'.
Can someone please help why is it function call not working?

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