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Case Status:    SETTLED
On or around 09/18/2001 (Date of order of final judgment)

Filing Date: August 04, 1999

According to the docket, beginning on June 9, 2000, U.S. District Judge Manuel L. Real granted several motions to dismiss the consolidated amended complaint as to certain Individual Defendants. Judge Manuel L. Real denied, however, the motion by defendant Motorcar Parts to dismiss the consolidated amended complaint. On June 28, 2001, a Stipulation for settlement was filed and on June 29, 2001, the judge preliminarily approved the proposed settlement. On September 18, 2001, the Court entered the Order granting the granting application for final approval of settlement, plan of allocation, and granting the application for attorney fees and reimbursement of costs and expenses. The settlement fund was in the amount of $7,500,000. The Final Judgment and Order was entered and the case was terminated.

Earlier, on December 1, 2000, the Court entered the Mandate from the Ninth Circuit Court of Appeals dismissed the appeal filed by the plaintiff in response to the November 8, 1999, Order denying plaintiff Desiderio’s motion for order for appointment of lead plaintiff and lead counsel.

The lawsuit alleges that defendants concealed from their shareholders accounting irregularities which have caused overstatement of the Company's earnings over the course of the past three years, including all of fiscal 1997 and 1998 and most of fiscal 1999, and in addition, that defendants continuously disseminated materially false and misleading statements regarding the Company's current financial performance and future business prospects. On August 1, 1999, the Company announced that, as a result of accounting irregularities, it expects to restate its previously reported financial results for fiscal 1997, 1998, and for the 1999 fiscal year through December 31, 1998. The Company further announced that accountants Richard A. Eisner & Company, LLP, had withdrawn their opinion on the Company's financial statements for the three years ended March 31, 1998, and that Company founder had resigned as chief executive officer.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Parts
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MPAA
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: C.D. California
DOCKET #: 99-CV-07971
JUDGE: Hon. Manuel L. Real
DATE FILED: 08/04/1999
CLASS PERIOD START: 08/04/1996
CLASS PERIOD END: 08/01/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (former San Diego)
    12544 High Bluff Drive, Suite 150, Bernstein Litowitz Berger & Grossmann LLP (former San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.com
  2. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 99-CV-07971
JUDGE: Hon. Manuel L. Real
DATE FILED: 12/27/1999
CLASS PERIOD START: 08/04/1996
CLASS PERIOD END: 08/01/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Feldhake August & Roquemore
    Newport Gateway Tower 2, 19900 MacArthur Blvd, Ste 850, Feldhake August & Roquemore, CA 92612
    949.553.5000 ·
  2. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  3. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  4. Susman, Godfrey LLP (Dallas)
    4100 Bank of America, 901 Main Street, Susman, Godfrey LLP (Dallas), TX 75202
    214.754.1908 · mevans@susangodfrey.com
No Document Title Filing Date
No Document Title Filing Date