$10M Deal In Terex, Pension Fund Stock-Drop Suit Gets OK

Law360 (April 15, 2019, 9:57 PM EDT) -- A Connecticut federal judge on Monday preliminarily signed off on a $10 million deal between manufacturer Terex Corp. and investors led by a sheet metal union pension fund in stock drop litigation over the company's alleged failure to disclose declining demand for its services.

U.S. District Judge Robert N. Chatigny gave an initial green light to the settlement, which applies to individuals who bought Terex stock between February 2008 and February 2009.

The investors, who filed several separate suits that were consolidated in 2010, claimed the Connecticut-based construction company and some of its executives used accounting tricks and other tactics to...

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