SOURCE: Izard Nobel LLP

December 22, 2009 12:19 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Terex Corporation

WEST HARTFORD, CT--(Marketwire - December 22, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the District of Connecticut on behalf of those who purchased the common stock of Terex Corporation ("Terex" or the "Company") (NYSE: TEX) between February 20, 2008 and September 4, 2008 (the "Class Period").

The Complaint charges that Terex and certain of its executives and officers violated federal securities laws by failing to disclose material adverse facts about the Company's true financial condition, business and prospects. Specifically, the Complaint alleges that defendants failed to disclose: (i) that the Company failed to properly and timely account for impaired assets in its "Construction" and "Roadbuilding, Utility Products and Other" segments; (ii) that Terex was experiencing declining demand for its products in its Construction, Materials Processing and Aerial Work Platforms segments; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On September 4, 2008, Terex announced that it was updating its "2008 full year guidance and providing quarterly guidance due to changing market conditions." In response to these statements which revealed various adverse factors negatively impacting Terex's business, the price of Terex stock fell $9.30 per share, or 20%, to close at $38.02 per share.

If you are a member of the class, you may, no later than February 19, 2010, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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