SOURCE: Brower Piven, A Professional Corporation

July 10, 2010 15:29 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $250,000 From Investment in Thor Industries, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the August 24, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - July 10, 2010) -  Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of purchasers of the common stock of Thor Industries, Inc. ("Thor" or the "Company") (NYSE: THO) during the period between November 30, 2009 and June 10, 2010 at 12:13 p.m. EDT, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than August 24, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/415-6616) to answer any questions you may have in that regard. 

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that certain accounting positions taken by the Company in its audited financial statements included in the Company's annual report on Form 10-K for the fiscal year ended July 31 2009, as well as the unaudited financial statements included in the Company's Quarterly Reports on Form 10-Q for the periods ended January 31, 2009, April 30, 2009, October 31, 2009 and January 31, 2010, were inaccurate and may have to be restated and that Thor used its capital to support its business with dealer loans and consumer lenders to support floor inventory and sales, and failed to properly account for these maneuvers. The Complaint alleges that after, on June 10, 2010, Thor issued a press release in which it announced that it was delaying the release of the Company's 10-Q due to their evaluation of certain accounting positions previously taken by the Company in its audited financial statements, the value of Thor's shares declined significantly.

If you have suffered a net loss for all transactions in Thor common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact