Briscoe investigates Northern Trust
01 September 2010 Dallas
Image: Shutterstock
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims available to purchasers of Northern Trust Corporation stock during the period of October 17, 2007 and October 20, 2009.
It has been alleged that NTRS and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company's business and financial affairs, leading the Company's share price to be artificially inflated during the class period. Specifically, NTRS allegedly failed to disclose the extent of its delinquent commercial real estate loans and certain risks associated with its securities lending program. During the class period, and while the stock traded at artificially high prices, top officers and directors for NTRS sold over 1.5 million shares of their stock, for proceeds of over USD106.5 million. Then on October 21, 2009, the Company announced that its third quarter results would not reach expectations, partly because of the serious decline of its securities lending program and its non-performing commercial loans. On that same day, NTRS's stock price fell more than over 6%.
If you currently own or purchased NTRS shares and would like additional information regarding this investigation, or if you have information regarding the allegations against the company, please contact:
Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com
or
Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
It has been alleged that NTRS and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company's business and financial affairs, leading the Company's share price to be artificially inflated during the class period. Specifically, NTRS allegedly failed to disclose the extent of its delinquent commercial real estate loans and certain risks associated with its securities lending program. During the class period, and while the stock traded at artificially high prices, top officers and directors for NTRS sold over 1.5 million shares of their stock, for proceeds of over USD106.5 million. Then on October 21, 2009, the Company announced that its third quarter results would not reach expectations, partly because of the serious decline of its securities lending program and its non-performing commercial loans. On that same day, NTRS's stock price fell more than over 6%.
If you currently own or purchased NTRS shares and would like additional information regarding this investigation, or if you have information regarding the allegations against the company, please contact:
Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com
or
Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
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