| Company: | Terex Corporation |
| Ticker Symbol: | TEX |
| Class Period: | Feb-20-08 to Sep-4-08 |
| Date Filed: | Dec-28-09 |
| Lead Plaintiff Deadline: | Feb-26-10 |
| Court: | District of Connecticut |
| Allegations: | |
The complaint, filed in the District of Connecticut, charges Terex and certain of its officers and directors with violations of the federal securities laws concerning statements made regarding the Company's business, operations and prospects during this period. The complaint alleges that the Company failed to properly and timely account for impaired assets in its "Construction" and "Roadbuilding, Utility Products and Other" segments. Also, the demand for products in Terex's Construction, Materials Processing and Aerial Work Platforms segments was declining. Based on this, the Board of Directors had no reasonable basis for causing the Company to issue positive statements.
On September 4, 2008, Terex announced that it would be updating its 2008 full year guidance and providing quarterly guidance due to changing market conditions. On this announcement, TEX shares dropped 20%, closing at $38.02 on September 4, 2008.
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.
