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Case Status:    SETTLED
On or around 02/18/2004 (Date of order of final judgment)

Filing Date: January 05, 2001

According to the Notice of Settlement, the parties reached an agreement in principle to settle the litigation. The proposed settlement creates a fund in the amount of $2,615,000 in cash (the "Settlement Fund") and will include interest that accrues on the fund prior to distribution. Depending on the number of eligible shares purchased by Settlement Class Members who elect to participate in the settlement and when those shares were purchased and sold, the estimated average recovery per share will be approximately $0.52 before deduction of Court-approved fees and expenses.

If the settlement is approved by the Court, counsel for the plaintiffs will apply to the Court for attorneys' fees of 25% of the Settlement Fund, or $653,750, and reimbursement of out-of-pocket expenses not to exceed $180,000 to be paid from the Settlement Fund. If the amount requested is approved by the Court, the average cost per share will be $0.165.

The original complaint charges M&A and certain of its officers and directors with violations of the Securities Exchange Act of 1934. M&A operates and develops Internet and technology related companies. The complaint alleges that to portray the Company as a financially viable Internet play, during the Class Period the individual defendants caused M&A to issue false financial results and make false statements about its results, causing its stock to trade at artificially inflated levels. By the spring of 2000, the individual defendants were anxious to see M&A participate in the Internet stock boom and to finish their audit, the consummation of which would assist the defendants in obtaining approval for the Boston Stock Exchange and NASDAQ Small Cap Market listing. To do this, defendants determined it was essential they report favorable financial results to be seen as a financially viable Internet play. As a result of the defendants' alleged false statements, M&A's stock price traded at inflated levels during the Class Period, increasing to as high as $8 in August 2000.
Then on December 28, 2000, M&A admitted that its results for its quarter ended August 31, 2000 and year ended May 31, 2000, had been false. In fact, its previously reported revenues/EPS had been improperly recognized and were the result of fraudulent accounting entries. M&A shares now trade for just pennies per share.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MAWI
Company Market: OTC-BB
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. California
DOCKET #: 01-CV-0033
JUDGE: Hon. Saundra Brown Armstrong
DATE FILED: 01/05/2001
CLASS PERIOD START: 08/17/2000
CLASS PERIOD END: 12/28/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA)
    225 Broadway, Suite 1900, Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA), CA 92010
    619.702.7350 619.702.7351 ·
  2. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  3. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  4. Law Offices of Marc S. Henzel (Lawrence)
    335 Central Avenue, Law Offices of Marc S. Henzel (Lawrence), NY 11559
    516.374.0707 516.295.3473 · securitiesfraud@comcast.net
  5. 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: N.D. California
DOCKET #: 01-CV-0033
JUDGE: Hon. Saundra Brown Armstrong
DATE FILED: 07/19/2001
CLASS PERIOD START: 10/04/1999
CLASS PERIOD END: 12/28/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaplan Fox & Kilsheimer, LLP (San Francisco, CA)
    100 Pine Street, 26th Floor, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA), CA 94111
    415.772.4700 415.677.1233 · info@kaplanfox.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    401 B Street, Suite 1700, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    206.749.5544 206.749.9978 · info@lerachlaw.com
  3. 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