SOURCE: Brower Piven, A Professional Corporation

August 30, 2010 11:29 ET

Brower Piven Encourages Investors Who Have Substantial Financial Losses From Investment in Northern Trust Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the October 25, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - August 30, 2010) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of purchasers of the common stock of Northern Trust Corporation ("Northern Trust" or the "Company") (NASDAQ: NTRS) during the period between October 17, 2007 and October 20, 2009, 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 October 25, 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 or 410/415-6616) to answer any questions you may have in that regard. 

The complaint charges Northern Trust and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Northern Trust Corporation, through its subsidiaries, provides asset servicing, fund administration, investment management, banking, and fiduciary solutions for corporations, institutions, and individuals worldwide.

The Complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding Northern Trust'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, reaching a high of $87.20 per share on September 11, 2008. While Northern Trust's stock was artificially inflated due to defendants' false statements, certain top officers and directors of the Company sold over 1.5 million shares of their Northern Trust stock for proceeds of over $106.5 million.

If you have suffered a net loss for all transactions in Northern Trust Corporation 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, by email at, 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 50 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

    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    Email Contact