CompuCredit Corporation - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

CompuCredit Corporation Conclusion: On May 14, 2002, the Court entered the Order, Judgment, and Amended Judgment dismissing the action with prejudice as the matter has been fully adjudicated on the merits in the Court. The case is closed.

As disclosed by the Company’s FORM 10-K for the fiscal year ended December 31, 2001, in July 2001, the Company filed a motion to dismiss the lawsuit. On February 19, 2002, the court granted the Company’s motion to dismiss, but allowed the plaintiffs to file a motion seeking leave to amend their complaint. On March 22, 2002, the plaintiffs filed a motion requesting additional time to amend their complaint. That motion is pending.

The original complaint charges CompuCredit and its chief executive officer, with making false and misleading public statements about the company that artificially inflated its stock. In particular, the complaint accuses CompuCredit of concealing information about a substantial rise in bad loans during the third quarter of 2000, which ended Sept. 30. After the stock market closed Oct. 24, the company surprised analysts by disclosing that its financial report would include a net charge-off rate for bad loans of 11% as compared to 9.2% for the previous quarter. As a result, CCRT common stock fell 43% the next day, from about $51 on Oct. 24, 2000 to $29 at the close of trading Oct. 25.

INDUSTRY CLASSIFICATION:
SIC Code: 6141
Sector: Financial
Industry: Consumer Financial Services

COMPANY/ISSUER NAME:	CompuCredit Corporation
COMPANY/ISSUER TICKER:	CCRT
COMPANY WEBSITE:	http://www.compucredit.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Charlie Monahan, et al. v. CompuCredit Corporation, et al.

COURT: N.D. Georgia	DOCKET NUMBER: 00-CV-02930
JUDGE NAME: Hon. Clarence Cooper
DATE FILED: 11/06/2000	SOURCE: Business Wires
CLASS PERIOD START: 09/12/2000	CLASS PERIOD END: 10/25/2000
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Berman, DeValerio & Pease LLP One Liberty Square, Boston, MA, 02109 (voice) (617) 542-8300, (fax) , Bernstein Liebhard & Lifshitz LLP (New York, NY) 10 E. 40th Street, 22nd Floor, New York, NY, 10016 (voice) 800.217.1522, (fax) , info@bernlieb.com Cauley & Geller 2255 Glades Road, #421A, Boca Raton, FL, 33431 (voice) 561.750.3000, (fax) , Holzer & Holzer, LLC 1117 Perimeter Center West, Suite E-107, Atlanta, GA, 30338 (voice) (770) 392-0090, (fax) (770) 392-0029, mfistel@holzerlaw.com Leo W. Desmond 2161 Palm Beach Lakes Boulevard, Suite 204, West Palm Beach, FL, 33409 (voice) 561.712.8000, (fax) , stocklaw@bellsouth.net Rabin & Peckel LLP 275 Madison Avenue, 34th Floor, New York, NY, 10016 (voice) 212.682.1818, (fax) 212.682.1892, email@rabinlaw.com Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 7

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT

Type:		Date on the document:

REFERENCE COMPLAINT

In Re: CompuCredit Corporation Securities Litigation

COURT: N.D. Georgia	DOCKET NUMBER: 00-CV-02930
JUDGE NAME: Hon. Beverly B. Martin
DATE FILED: 05/07/2001	SOURCE: Business Wires
CLASS PERIOD START: 09/12/2000	CLASS PERIOD END: 10/25/2000
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bernstein Liebhard & Lifshitz LLP (New York, NY) 10 E. 40th Street, 22nd Floor, New York, NY, 10016 (voice) 800.217.1522, (fax) , info@bernlieb.com Chitwood & Harley LLP 7945 East Paces Ferry Road, 1400 Resurgens Plaza, Atlanta, GA, 30326 (voice) 404.266.1650, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/13/2002

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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