Investors File Second Lawsuit Against Oshkosh

October 2, 2008 • Brower Piven, Baltimore, Md., announces that a class action lawsuit has commenced on behalf of purchasers of Oshkosh Corp. common stock who have losses in excess of $100,000 from investing in Oshkosh Corp. between Nov. 1, 2007, and June 25, 2008. This is the second lawsuit filed on behalf of Oshkosh investors in the last two weeks.

Brower Piven's complaint charges Oshkosh and certain of its officers and directors with violations under the Securities Exchange Act of 1934. The complaint alleges that, during the class period, defendants materially misled the investing public, thereby inflating the price of Oshkosh's common stock, by publicly issuing materially false and misleading statements and omitting to disclose material facts necessary to make defendants' statements not false and misleading.

As alleged in the complaint, the company failed to disclose during the class period that synergies related to Oshkosh's European facility rationalization program for its refuse business, the Geesink Norba Group, were lower and the cost of such rationalization was higher than represented; the value of Oshkosh's European refuse business was overstated and should have been written down; Oshkosh's JLG access-equipment division was experiencing a dramatic decrease in demand; and Oshkosh lacked any reasonable basis to maintain its financial guidance for fiscal 2008. The complaint further alleges that on June 26, 2008, Oshkosh announced that it was revising downwards estimates for its third quarter and full fiscal 2008 financial results. After the announcement, the value of the company's shares declined significantly.