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Credit Acceptance Corporation Announces Court Ruling

28 April 1999

Credit Acceptance Corporation Announces Court Ruling

    SOUTHFIELD, Mich.--April 27, 1999--Credit Acceptance Corporation announced today that the United States District Court for the Eastern District of Michigan (J. Nancy G. Edmunds) has granted the motion of the Company and certain of its present and former officers and directors to dismiss the previously reported putative consolidated class action complaint which sought money damages from the Company and those officers and directors based upon alleged violations of the federal securities laws and has entered a final judgement dismissing the action with prejudice.
    Credit Acceptance Corporation is a specialized financial services company which provides funding, receivables management, collection, sales training and related products and services to automobile dealers selling vehicles to consumers with limited access to traditional sources of consumer credit.