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Case Status:    DISMISSED    
On or around 09/25/2001 (Other)

Filing Date: November 30, 1999

According to the docket posted, on September 24, 2001, the defendants and plaintiffs filed a stipulation regarding the termination of the action. On September 25, 2001, the Court entered the Order by U.S. District Judge Roslyn O. Silver granting the stipulation regarding termination of the action. The civil action and the representative plaintiffs' claims asserted were dismissed with prejudice with each party to bear its own fees, costs and expenses as set forth in the stipulation.

As summarized by a law firm’s website, on March 8, 2000, the Court consolidated all of the securities fraud actions against Action Performance arising from these facts into one consolidated class action and directed plaintiffs to file a consolidated complaint. On March 22, 2000, the Court appointed the Action Performance Plaintiffs Group as Lead Plaintiffs in the action, and appointed the law firms of Milberg Weiss Bershad Hynes & Lerach LLP, and Cohen, Milstein, Hausfeld & Toll P.L.L.C. as Co-lead Counsel for Lead Plaintiffs and the firm of Bonnett, Fairbourn, Friedman & Balint, P.C. as Liaison Counsel. On July 10, 2001, the Court granted defendants' motion to dismiss with leave to amend and directed plaintiffs to file an amended complaint within thirty (30) days.

The original complaint alleges that on 7/6/99, the Company's wholly owned subsidiary goracing.com filed a registration statement with the SEC for an initial public offering ("IPO") to raise $80 million. Because Action Performance would own 80% of the stock of goracing.com subsequent to the IPO, the top officers of Action Performance needed to make the IPO successful. To this end, it was essential that Action Performance appear to be successfully growing. Thus, defendants issued allegedly false statements about the state of Action Performance's business and the shipment of certain of its products to Home Depot.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Recreational Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ACTN
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: D. Arizona
DOCKET #: 99-CV-02106
JUDGE: Hon. Roslyn O. Silver
DATE FILED: 11/30/1999
CLASS PERIOD START: 07/27/1999
CLASS PERIOD END: 11/04/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  2. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: D. Arizona
DOCKET #: 99-CV-02106
JUDGE: Hon. Roslyn O. Silver
DATE FILED: 05/23/2000
CLASS PERIOD START: 07/27/1999
CLASS PERIOD END: 12/16/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix)
    2901 North Central Avenue - Suite 1000, Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix), AZ 85012
    602.274.1100 602.274.1199 ·
  2. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  3. Lowey, Dannenberg, Bemporad & Selinger, P.C.
    1 North Lexington Avenue, 11th Floor, Lowey, Dannenberg, Bemporad & Selinger, P.C., NY 10601-1714
    914.997.0500 914.997.0035 · ldbs@wesetnet.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  6. Weiss & Lurie (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Lurie (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
No Document Title Filing Date
No Document Title Filing Date