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Terex Corporation Shareholder Files Lawsuit

 

If you purchased common stock Terex Corporation (NYSE: TEX) between February 20, 2008 and September 4, 2008, you have certain options and there are strict and short deadlines running. Deadline: February 19, 2010. Those TEX investors and current long term TEX shareholders should contact the Shareholders Foundation, Inc.

You may contact us by using this form, or by sending an email to mail@shareholdersfoundation.com, or calling us at (858) 779-1554.

Company Name(s): 
Terex Corporation
Case Name: 
Terex Corporation Shareholder Class Action 12/21/2009
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: TEX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/21/2009
Class Period Begin: 
02/20/2008
Class Period End: 
09/04/2008
Court of Filing: 
U.S. District Court for the District of Connecticut
Deadline To File for Lead: 
02/19/2010
Summary: 

An investor Terex Corporation (Public, NYSE:TEX) filed a lawsuit in the United States District Court for the District of Connecticut on behalf of purchasers of the common stock Terex Corporation (NYSE: TEX) between February 20, 2008 and September 4, 2008, over alleged violations of Federal Securities Laws by Terex Corp. and others.

According to the complaint the plaintiff alleges that Terex Corp. and certain of its officers and executives violated the Securities Exchange Act of 1934by failing to disclose between February 20, 2008 and September 4, 2008, material adverse facts about its true financial condition, business and prospects. Then on September 4, 2008, Terex announced that it was updating its “2008 full year guidance and providing quarterly guidance due to changing market conditions” and in response to these statements which revealed various adverse factors negatively impacting Terex’s business, the price of Terex Corp. stock (TEX) fell $9.30 per share, or 20%, to close at $38.02 per share, so the lawsuit.

Terex Corporation, located in Westport, CT is a diversified global manufacturer of capital equipment focused on delivering reliable, customer relevant solutions for the construction, infrastructure, quarrying, surface mining, shipping, transportation, refining and utility industries. The Company operates in five segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining and Terex Roadbuilding, Utility Products and Other. Terex Corp. reported in 2007 Total Revenue of $9.1377billion with a Net Income of $613.9million and in 2008 Total Revenue of $9.8896 Billion with a Net Income of $71.90million. Shares of Terex Corporation (TEX) traded recently at $20.94 per share, down from its 52weekHigh of $25.61 per share, $50.29 per share in August 09, $73.97 per share in May 08, and over $92 per share in 2007.

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