Northern Trust Corporation Investor Files Lawsuit Alleging Securities Laws Violations

If you purchased of Northern Trust Corporation (NASDAQ:NTRS) common stock during the period between October 17, 2007 and October 20, 2009, you have certain options and there are short and strict deadlines running. Deadline: October 22, 2010. Those NTRS stockholders and current long term NTRS investors, including those who purchased NTRS shares prior to October 2007 and continue to hold those shares, should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Northern Trust Corporation
Case Name: 
Northern Trust Corporation Shareholder Class Action 08/24/2010
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: NTRS
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/24/2010
Class Period Begin: 
10/17/2007
Class Period End: 
10/20/2009
Court of Filing: 
U.S. District Court for the Northern District of Illinois
Deadline To File for Lead: 
10/22/2010
Summary: 

An investor of Northern Trust Corporation (NASDAQ:NTRS) filed a lawsuit in investor in the United States District Court for the Northern District of Illinois against Northern Trust Corp. over alleged violations of Federal Securities Laws.

Northern Trust Corporation, located in Chicago, Illinois, is a financial holding company, which provides asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals worldwide. According to the complaint the plaintiff alleges that Northern Trust Corp. and certain of its officers and directors violated Securities Exchange Act of 1934 by issuing between October 17, 2007 and October 20, 2009, materially false and misleading statements regarding its business and financial results and engaging in improper behavior that harmed Northern Trust's investors by failing to disclose the extent of its seriously delinquent commercial real estate loans and the true nature and risks associated with its once highly profitable securities lending program.

Then, on October 21, 2009, before the market opened, Northern Trust Corp. reported its third quarter 2009 earnings results, announcing third quarter results that fell short of expectations due in part to a serious decline in its securities lending program and to continuing pressure from its non-performing loans. On this news, so the lawsuit, Northern Trust's stock (NTRS) fell $3.29 per share to close at $54.16 per share on October 21, 2009, a one-day decline of nearly 6% on volume of over 8.55 million shares. Shares of Northern Trust Corporation (NASDAQ:NTRS) traded recently at $45.86 per share, down from its current 52weekHigh of $60.85 per share. During 2009 NTRS shares traded as high as $64.12 per share, and reached during 2008 $87 per share.