BENSALEM, Pa.–(BUSINESS WIRE)–$SPR #classaction–Law Offices of Howard G. Smith reminds investors of the upcoming April 10, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) (NYSE: SPR) securities between October 31, 2019 and January 29, 2020 inclusive (the “Class Period”).
Investors suffering losses on their Spirit investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On January 30, 2020, Spirit issued a press release announcing executive officer changes. Therein, Spirit stated that it “did not comply with its established accounting processes related to certain potential contingent liabilities that were received by Spirit after the end of third quarter 2019.” Moreover, the Company stated that, “[i]n light of these findings,” Spirits’ Chief Financial Officer, Jose Garcia, and Principal Accounting Officer, John Gilson, resigned from their positions.
On this news, the Company’s share price fell $2.56, or nearly 4%, to close at $65.08 per share on January 30, 2020, on usually heavy trading volume.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company did not comply with its established accounting principles related to potential contingent liabilities; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased Spirit securities during the Class Period, you may move the Court no later than April 10, 2020 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 [email protected], or visit our website at www.howardsmithlaw.com.
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