According to the docket dated December 18, 2000, on December 19, 2000, the Court entered the Opinion and Judgment of the Fifth Circuit Court of Appeals affirming the Judgment of the District Court. It was stated in the Judgment that the Plaintiffs must pay to the Defendants the costs of the appeal. Earlier, on April 24, 2000, the Court entered the Memorandum Opinion, Order, and Judgment granting the Defendants’ motion to dismiss the amended complaint with prejudice and the case was closed. The Plaintiffs filed a Notice of Appeal.
The original Complaint alleges that AmeriCredit and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing a series of false and misleading statements concerning the Company's financial results for the last three quarters of fiscal 1997, fiscal 1998, and the first quarter of fiscal 1999. In particular, it is alleged that defendants materially overstated the Company's revenue, net income, and earnings per share for those periods, in violation of generally accepted accounting principles. As a result of the wrongful conduct complained of in the Complaint, it is alleged that plaintiff and the other members of the class have suffered damages.