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Case Status:    DISMISSED    
On or around 05/14/2002 (Date of order of final judgment)

Filing Date: November 06, 2000

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.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CCRT
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 #: 00-CV-02930
JUDGE: Hon. Clarence Cooper
DATE FILED: 11/06/2000
CLASS PERIOD START: 09/12/2000
CLASS PERIOD END: 10/25/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman, DeValerio & Pease LLP
    One Liberty Square, Berman, DeValerio & Pease LLP, MA 02109
    617.542.8300 ·
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Cauley & Geller (Boca Raton)
    2255 Glades Road, #421A, Cauley & Geller (Boca Raton), FL 33431
    561.750.3000 ·
  4. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  5. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  6. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  7. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 00-CV-02930
JUDGE: Hon. Clarence Cooper
DATE FILED: 05/07/2001
CLASS PERIOD START: 09/12/2000
CLASS PERIOD END: 10/25/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Chitwood & Harley LLP (Atlanta)
    7945 East Paces Ferry Road, 1400 Resurgens Plaza, Chitwood & Harley LLP (Atlanta), GA 30326
    404.266.1650 · info@chitwoodlaw.com
No Document Title Filing Date