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Northern Trust involved in class action
25 August 2010
A class action lawsuit has been filed against Northern Trust in the US.
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Northern Trust class action
A class action lawsuit has been filed against Northern Trust in the US. The complaint charges Northern Trust and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the class period, Northern Trust issued materially false and misleading statements regarding the company's business and financial results and engaged in improper behaviour 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 programme. The lawsuit claims that...
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