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Case Status:    ONGOING    
On or around 01/28/2015 (Ongoing date of last review)

Filing Date: December 21, 2009

According to a press release dated December 21, 2009, the complaint charges Terex and certain of its officers and executives with violations of the Securities Exchange Act of 1934. Terex operates as a diversified global manufacturer. The Company manufactures a range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries.

The complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that the Company failed to properly and timely account for impaired assets in its “Construction” and “Roadbuilding, Utility Products and Other” segments; (ii) that the Company was experiencing declining demand for its products in its Construction, Materials Processing and Aerial Work Platforms segments; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On September 4, 2008, Terex announced that it was updating its “2008 full year guidance and providing quarterly guidance due to changing market conditions.” In response to these statements which revealed various adverse factors negatively impacting Terex’s business, the price of Terex stock fell $9.30 per share, or 20%, to close at $38.02 per share.

On September 13, 2010, a joint motion of the Sheet Metal Workers Pension Fund and the Ironworkers Pension Fund for appointment as lead plaintiff was granted along with the appointment of lead counsel.

On November 18, 2010, a Consolidated Class Action Complaint for Violations of Securities Laws was filed by the lead plaintiff against the defendants.

On December 03, 2010, a Corrected Consolidated Class Action Complaint For Violations Of Securities Laws was filed by the lead plaintiff against the defendants.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Misc. Capital Goods
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TEX
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Connecticut
DOCKET #: 09-CV-02083
JUDGE: Hon. Robert N. Chatigny
DATE FILED: 12/21/2009
CLASS PERIOD START: 02/20/2008
CLASS PERIOD END: 09/04/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (NY)
    200 Broadhollow Road, Suite 406, Coughlin Stoia Geller Rudman & Robbins LLP (NY), NY 11747
    631-367-7100 631-367-1173 · info@csgrr.com/
  2. Diserio Martin O'Connor & Castiglioni LLP
    1 Atlantic Street, Diserio Martin O'Connor & Castiglioni LLP, CT 06901
    203.358.0800 203.348.2321 ·
  3. Sugarman & Susskind
    100 Miracle Mile, Suite 300, Sugarman & Susskind, FL 33134
    305/529-2801 305/447-8115 ·
No Document Title Filing Date
COURT: D. Connecticut
DOCKET #: 09-CV-02083
JUDGE: Hon. Robert N. Chatigny
DATE FILED: 09/13/2010
CLASS PERIOD START: 02/20/2008
CLASS PERIOD END: 02/11/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cavanagh & O'Hara
    407 East Adams Street, Cavanagh & O'Hara, IL 62701
    217.544.1771 217.544.1771 ·
  2. Diserio Martin O'Connor & Castiglioni LLP
    1 Atlantic Street, Diserio Martin O'Connor & Castiglioni LLP, CT 06901
    203.358.0800 203.348.2321 ·
  3. Robbins Geller Rudman & Dowd LLP (Boca Raton)
    120 East Palmetto Park Road, Suite 500, Robbins Geller Rudman & Dowd LLP (Boca Raton), FL 33432
    561.750.3000 561.750.3364 ·
  4. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  5. Sugarman & Susskind
    100 Miracle Mile, Suite 300, Sugarman & Susskind, FL 33134
    305/529-2801 305/447-8115 ·
No Document Title Filing Date
No Document Title Filing Date