| Company: | Northern Trust Corporation |
| Ticker Symbol: | NTRS |
| Class Period: | Oct-17-07 to Oct-20-09 |
| Date Filed: | Sep-10-10 |
| Lead Plaintiff Deadline: | Nov-9-10 |
| Court: | Northern District of Illinois |
| Allegations: | |
Northern Trust is a financial holding company that provides asset servicing, fund administration, investment management, banking and fiduciary solutions for corporations, institutions and affluent individuals worldwide. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results and engaged 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. As a result of defendants' false statements, Northern Trust's stock traded at artificially inflated prices during the Class Period. Additionally and as a result of this, Company insiders sold over 1.5 million shares of their Northern Trust stock for proceeds of over $106.5 million.
Then, on October 21, 2009, before the market opened, Northern Trust reported its third quarter 2009 earnings results, announcing third quarter results that fell short of expectations due in part to a serious decline in the Company's securities lending program and to continuing pressure from its non-performing loans. On this news, Northern Trust's stock fell $3.29 per share to close at $54.16 per share on October 21, 2009.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
