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Non-Tech : MPAA - Motorcar Parts and Accessories
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To: Bilow who wrote (4)8/4/1999 1:00:00 AM
From: Justice Reed   of 5
 
Purchasers 6/30/96 - 8/1/99
On August 1, 1999, the company revealed an ongoing investigation of accounting irregularities that prompted the resignation of CEO Mel Marks, the withdrawal by the company's auditor of its last three years' auditor opinions and financial reports, the necessity of the restatement of at least the reported financial results for fiscal years 1997 and 1998, and the first nine months of fiscal 1999. As a result, the company has admitted it is unable to file its Annual Report on Form 10-K with the Securities and Exchange Commission. NASDAQ halted trading of the company's stock, citing "additional information requested" from the company. Trading was halted at $5-5/32. The stock sold for as high as $20-1/2 during the period the market received reports of financial results that the company has now admitted were materially misstated at the time they were made.

If you purchased MPAAE (MPAA) shares during the period 6/30/96 - 8/1/99, you may be a member of a class of injured shareholders. If you have information which would help us prosecute Motorcar Parts & Accessories, Inc., please contact us at mail@schubert-reed.com. If you want more information about Motorcar Parts & Accessories, Inc. or class action lawsuits, please review our web site at schubert-reed.com.
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