A lawsuit on behalf of investors in Northern Trust Corp who purchased NTRS shares during the period between October 17, 2007 and October 20, 2009 alleging securities laws violations by Northern Trust Corporation was filed in August. Meanwhile an investigation on behalf of current long term investors in Northern Trust Corporation (NASDAQ:NTRS), including those who purchased also prior to October 2007 and presently continue to hold those NTRS shares, over possible breaches of fiduciary duty was announced.

According to the complaint filed in the United States District Court for the Northern District of Illinois the plaintiff alleges on behalf of those who purchased of Northern Trust Corporation (NASDAQ:NTRS) common stock during the period between October 17, 2007 and October 20, 2009 that Northern Trust Corp. 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. The investigation by a law firm on behalf of current Northern Trust Corporation long term investors, including those who purchased also prior to October 2007 and presently continue to hold those NTRS shares, focuses on potential breaches of fiduciary duty by certain officers and directors of Northern Trust in connection with the alleged securities laws violations.

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 $49.26 per share, down from its current 52weekHigh of $60.84 per share. During 2009 NTRS shares traded as high as $64.12 per share, and reached during 2008 $87 per share.