Rabin & Peckel Files Complaint Against Motorcar Parts & Accessories
26 August 1999
Rabin & Peckel Announces Class Action Complaint Filed Against Motorcar Parts & Accessories, Inc. and Certain of Its Officers and Directors Alleging Violations of Federal Securities Law
NEW YORK--Aug. 25, 1999The following is an announcement by the law firm of Rabin &
Peckel LLP
A class action complaint has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased Motorcar Parts & Accessories, Inc. ("Motorcar") common stock between August 1, 1996 and August 1, 1999, inclusive (the "Class Period").
The Complaint alleges that Motorcar and certain of its officers and directors violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements during the Class Period concerning Motorcar's reported financial results during the Class Period. In particular, it is alleged that these reported financial results are not presented in conformity with generally accepted accounting principles and require restatement. The Complaint alleges that as a result of these false and misleading statements the price of Motorcar common stock was artificially inflated throughout the Class Period causing plaintiff and the other members of the Class to suffer damages.
Plaintiff is represented by the law firms of Rabin & Peckel LLP and The Law Office of Leo W. Desmond. Rabin & Peckel LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.
If you purchased Motorcar common stock during the Class Period described above, you may, no later than October 4, 1999, move the Court to serve as lead plaintiff. To serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this announcement, or your rights or interests, please contact plaintiff's counsel, Joseph V. McBride, Rabin & Peckel LLP, 275 Madison Avenue, New York, NY 10016, by telephone at (800) 497-8076 or (212) 682-1818, by facsimile at (212) 682-1892, or by e-mail at email@rabinlaw.com, or Leo W. Desmond, The Law Office of Leo W. Desmond, 2161 Palm Beach Lakes Blvd., Suite 204, West Palm Beach, FL 33409, by telephone at (888) 337-6663 or (561) 712-8000, by facsimile at (561) 712-8002, by e-mail at Info@SecuritiesAttorney.com, or at his website at www.SecuritiesAttorney.com. CONTACT: RABIN & PECKEL LLP