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You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of August 13, 2019 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
Settlement Overview
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April 15, 2019 - The court preliminarily approved the settlement.
March 27, 2019 - A stipulation of settlement was filed by the parties.
March 31, 2018 - The court granted in part and denied in part defendants' motion to dismiss.
January 18, 2011 - A motion to dismiss the corrected amended consolidated complaint was filed.
December 3, 2010 - A corrected amended consolidated complaint was filed.
November 18, 2010 - An amended consolidated complaint was filed.
January 15, 2010 - Another investor filed a complaint on behalf of investors who purchased Terex Corporation (NYSE: TEX) common shares between February 20, 2008 and February 11, 2009. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between February 20, 2008 and February 11, 2009.
December 21, 2009 - An investor in shares of Terex Corporation (NYSE: TEX) filed a lawsuit in the U.S. District Court for the District of Connecticut against Terex Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 20, 2008 and September 4, 2008.
According to the complaint the plaintiff alleges that Terex Corporation and certain of its officers and executives violated the Securities Exchange Act of 1934 by 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 Corporation 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 Corporation’s business, the price of Terex Corporation 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. Terex Corporation operates in five segments: Terex Aerial Work Platforms, Terex Construction, Terex Cranes, Terex Materials Processing & Mining and Terex Roadbuilding, Utility Products and Other. Terex Corporation reported in 2007 Total Revenue of $9.1377 billion with a Net Income of $613.9 million and in 2008 Total Revenue of $9.8896 Billion with a Net Income of $71.90 million.
Shares of Terex Corporation (TEX) traded recently at $20.94 per share, down from its 52 week High of $25.61 per share, $50.29 per share in August 2009, $73.97 per share in May 2008, and over $92 per share in 2007.