Market Overview

Robbins Arroyo LLP Announces Terex Corporation (TEX) Securities Class Action Survives Motion to Dismiss

Share:

Shareholder rights law firm Robbins
Arroyo LLP
announces Terex Corporation (NYSE:TEX) may face damages
caused by a pending securities class action lawsuit. Terex manufactures
and sells aerial work platforms, cranes, and materials processing
machinery worldwide.

Investors filed a class action complaint against Terex for alleged
violations of the Securities Exchange Act of 1934. According to the
complaint, Terex used improper accounting practices and falsely touted
the company's business prospects in order to disguise dramatically
declining demand for its products. Specifically, Terex prematurely
recognized revenue in connection with product sales by moving its
products to off-site locations and reporting them as sold, even though
they were not being sent to customers. Terex's attempts to boost sales,
meet market expectations, and maintain unrealistic financial projections
were in vain, as the company eventually admitted a significant net loss
and massive goodwill impairment charges. On March 31, 2018, U.S.
District Judge Robert N. Chatigny denied in part defendants' motion to
dismiss plaintiff's complaint, paving the way for litigation to proceed.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/terex-corporation/

Terex Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

View Comments and Join the Discussion!