Boca Raton, FL, June 25, 2010: In a class action filed today, Thor Industries, Inc. (“Thor” or the “Company”) (NYSE: THO) and several of its executives were sued for violations of the federal securities laws, including securities fraud.
Saxena White P.A. commenced the class action, on behalf of an institutional investor, in the United States District Court for the Southern District of Ohio on behalf of all persons or entities who purchased shares of Thor common stock between November 30, 2009 and June 10, 2010 at 12:13 PM Eastern Daylight Time, inclusive (the “Class Period”).
On June 10, 2010, at 12:13 PM Eastern Daylight Time, Thor issued a press release in which it announced that it was delaying the release of the Company’s 10-Q due to their evaluation of certain accounting positions previously taken by the Company in its audited financial statements If the Company is required to change its accounting for these items, there could be material adverse changes to the Company’s results of operations and financial condition for fiscal 2009 and for the first three quarters of fiscal 2010. The price of Thor common stock was trading at $28.39 per share prior to the release of the news, and traded as low as $20.74 per share, a precipitous decline of 27% after the shocking news was revealed.
You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased Thor stock between November 30, 2009 and June 10 at 12:12 PM Eastern Daylight Time, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests:
Joseph E. White, III
jwhite@saxenawhite.com
Greg Stone
gstone@saxenawhite.com
Saxena White P.A.
2424 North Federal Highway, Suite 257
Boca Raton, FL 33431
Tel: (561) 394-3399
Fax: (561) 394-3382
www.saxenawhite.com
If you purchased Thor shares in the Class Period, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than August 24, 2010. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
