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Case Status:    SETTLED
On or around 08/18/2020 (Other)

Filing Date: January 12, 2017

According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Fenix had an inadequate inventory valuation methodology; (2) Fenix had an inadequate methodology to calculate goodwill impairment; (3) Fenix was engaging and/or had engaged in conduct that would result in an SEC investigation; and (4) as a result, Defendants’ statements about Fenix’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On June 28, 2017, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiffs filed an amended Complaint on August 28.

On November 1, 2017, this case was transferred to the Northern District of Illinois, to be docketed under 17-CV-07896.

On January 2, 2018, the Issuer and Underwriter Defendants filed Motions to Dismiss the amended Complaint. On June 26, the Court issued an Order granting the Underwriter Defendants' Motion to Dismiss. On July 13, the Court issued an Order denying the Issuer Defendant's Motion to Dismiss.

On November 6, 2019, the parties entered into a Stipulation and Agreement of Settlement. The Court preliminarily approved the Settlement on November 26. On August 7, 2020, the Court granted final approval of the Settlement and entered Final Judgment.


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


Ticker Symbol: FENX
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. New Jersey
DOCKET #: 17-CV-00233
JUDGE: Hon. Stanley R. Chesler
DATE FILED: 01/12/2017
CLASS PERIOD END: 10/12/2016
  1. The Rosen Law Firm (New Jersey)
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 17-CV-07896
JUDGE: Hon. Stanley R. Chesler
DATE FILED: 11/01/2017
CLASS PERIOD END: 06/28/2017
  1. Glancy Prongay & Murray LLP
  2. Levi & Korsinsky
No Document Title Filing Date
—Related District Court Filings Data is not available