Bridgestone Securities Litigation

This Action arises from the August 9, 2000 voluntary recall by Firestone of certain ATX, ATX II, and Wilderness AT tires.

On January 4, 2001 and January 21, 2001, respectively, two putative securities class action lawsuites were filed in the United States District Court for the Middle District of Tennessee, Nashville Division, against Defendants and two former individual defendants, Yoichiro Kaizaki and Masatoshi Ono. The actions were styled: City of Monroe Employees Retirement System v. Bridgestone Corporation, et al., No. 3:01-0017; and Ziemer v. Bridgestone Corporation, et al., No. 3:01-0070.

On April 11, 2001, the Court consolidated the actions pursuant to Federal Rule of Civil Procedure 42(a) under Master File No. 3:01-0017. The consolidated actions are referred to collectively as the "Action."

On April 11, 2001, the Court appointed City of Monroe Employees Retirement System and Patricia Ziemer as lead plaintiffs ("Lead Plaintiffs") pursuant to section 21D(a)(3)(B) of the Securities Exchange Act of 1934 and approved its selection of Coughlin Stoia Geller Rudman & Robbins LLP (Milberg Weiss Bershad Hynes & Lerach LLP at the time) and Barrack Rodos & Bacine as Lead Counsel and Barrett, Johnson & Parsley as Liason Counsel.

On May 11, 2001, Lead Plaintiffs filed the Consolidated Complaint for Violations of the Securities Exchange Act of 1934 (the "Complaint"), which is the operative complaint in this Action. The Complaint alleges violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

On September 17, 2001, Defendants, along with former individual defendants Yoichiro Kaizaki and Masatoshi Ono, moved to dismiss the Complaint on various grounds.

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