Terex Corporation operates as a diversified global manufacturer. It manufactures a range of equipment for use in various industries, including the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining, and utility industries.

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. 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, the Court issued an Order appointing lead Plaintiff and Counsel. On November 18, 2010, lead Plaintiff filed a consolidated Complaint.

On December 03, 2010, a corrected consolidated Complaint was filed by the lead Plaintiff. Defendants filed a Motion to Dismiss the consolidated Complaint on January 18, 2011.

On March 31, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss the Complaint. On March 27, 2019, the parties entered into a Settlement Agreement. The Court issued an Order preliminarily approving the Settlement on April 15. On July 31, the Court granted final approval of the Settlement and entered Final Judgment.