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Published in House and Home on Friday, June 11th 2010 at 18:20 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Thor Industries, Inc. (aThora or the aCompanya) (NYSE:THO) concerning possible violations of federal securities laws between March 9, 2009 and June 9, 2010.
"issues relating to the accounting treatment for (a) the Companya™s transactions with Stephen Adams and FreedomRoads that were consummated in January 2009, and (b) repurchase reserves relating to agreements with lenders to the Companya™s independent dealers and revenue recognition issues with respect to transactions with its independent dealers."
Thor, together with its subsidiaries, manufactures and sells a range of recreation vehicles and small and mid-size buses, as well as related parts and accessories, in the United States and Canada. The investigation focuses on allegations that certain statements made by the Company during this period concerning the Companya™s financial performance were materially false and/or misleading. On June 10, 2010, Thor announced that it was delaying the release of its Quarterly Report on Form 10-Q for the period ended April 30, 2010, while the Companya™s auditor evaluates aissues relating to the accounting treatment for (a) the Companya™s transactions with Stephen Adams and FreedomRoads that were consummated in January 2009, and (b) repurchase reserves relating to agreements with lenders to the Companya™s independent dealers and revenue recognition issues with respect to transactions with its independent dealers.a
If you purchased shares of Thor between March 9, 2009 and June 9, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].
