Fenix Parts, Inc. ("Fenix") is a provider of automotive products in the United States. The company specializes in Recycled Original Equipment.

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. The Court authorized distribution of the Settlement Fund on March 5, 2021.