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Case Status:    DISMISSED    
On or around 03/10/2000 (Date of order of final judgment)

Filing Date: February 23, 1998

According to the Company’s FORM 10-Q For The Quarterly Period Ended February 29, 2000, on July 19, 1999, the Company, the Company's former President and Chief Executive Officer and Mego Financial filed motions to dismiss the second amended and redrafted complaint. On March 9, 2000, the court granted the motions and dismissed the case with prejudice.

As previously reported by the same SEC filing, on June 30, 1998, the plaintiff amended the complaint to add additional plaintiffs, to add as a defendant Mego Financial, the Company's former parent, and to extend the class period through and including May 20, 1998. On September 18, 1998, the Company, the Company's former President and Chief Executive Officer and Mego Financial filed motions to dismiss the complaint. On April 8, 1999, the court granted each of these motions. In the court's order dismissing the complaint, the plaintiffs were permitted, upon proper motions, to serve and file a second amended and redrafted complaint within 30 days. On May 10, 1999, the Plaintiffs moved for leave to file and serve the second amended and redrafted complaint contemplated in the earlier order. The court granted Plaintiffs' motion and accepted the second amended complaint on June 8, 1999.

The original complaint charges that the defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. According to the Complaint, the defendants engaged in a scheme to inflate artificially the market price of Mego Mortgage common stock and to defraud purchasers of Mego Mortgage common stock by, inter alia, making misrepresentations and omissions of material fact concerning Mego Mortgage's financial condition, operations and growth prospects during the Class Period. The Complaint alleges, among other things, that Mego Mortgage inflated the value of the mortgage related securities carried on its financial statements.

COMPANY INFORMATION:

Sector: Financial
Industry: S&Ls/Savings Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MMGC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Georgia
DOCKET #: 98-CV-00593
JUDGE: Hon. Charles A. Moye, Jr.
DATE FILED: 02/23/1998
CLASS PERIOD START: 04/11/1997
CLASS PERIOD END: 12/18/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.com
  2. Jaroslawicz & Jaros (former NY)
    150 William Street, Jaroslawicz & Jaros (former NY), NY 10038
    212.227.2780 ·
  3. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 98-CV-00593
JUDGE: Hon. Charles A. Moye, Jr.
DATE FILED: 05/10/1999
CLASS PERIOD START: 04/11/1997
CLASS PERIOD END: 05/20/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.com
  2. Carr Tabb Pope & Freeman
    1355 Peachtree Street, N.E.; Suite 2000, Carr Tabb Pope & Freeman, GA 30309
    404-876-7790 ·
  3. Jaroslawicz & Jaros (former NY)
    150 William Street, Jaroslawicz & Jaros (former NY), NY 10038
    212.227.2780 ·
  4. Levin Fishbein Sedran & Berman (former)
    320 Walnut Street, 6th Floor , Levin Fishbein Sedran & Berman (former), PA 19106
    215.592.1500 ·
  5. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
No Document Title Filing Date