Judge Tosses Two AmeriCredit Securities Suits

Law360, New York (September 11, 2006, 12:00 AM EDT) -- In a break for AmeriCredit Corp., a federal court has dismissed two lawsuits filed against it alleging securities violations, the automobile finance company said Monday.

The Fort Worth, Tex.-based AmeriCredit disclosed the news in a filing with the U.S. Securities and Exchange Commission, saying that the substantive allegations in both actions, filed in the U.S. District Court for the Northern District of Texas, were "essentially the same."

The first lawsuit, filed in 2003, claimed that AmeriCredit misrepresented its financial performance in connection with its secondary public...
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