Spirit AeroSystems Holdings, Inc.,
Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) (NYSE: SPR) between October 31, 2019 and January 29, 2020, inclusive (the “Class Period”).
If you purchased Spirit securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above.
New York, New York — Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action has been filed on behalf of investors that purchased or acquired the securities of Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) (NYSE: SPR) between October 31, 2019 and January 29, 2020, inclusive (the “Class Period”). The lawsuit filed in the United States District Court for the Northern District of Oklahoma alleges violations of the Securities Exchange Act of 1934.
According to the lawsuit, 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.
On January 30, 2020, before the market opened, the Company issued a press release announcing that Spirit had determined that it did not comply with its accounting procedures and that Garcia and Gilson had resigned. On this news the Company’s shares fell $2.56 per share or approximately 4% on unusually high volume to close at $65.08 per share on January 30, 2020.
If you wish to serve as lead plaintiff, you must move the Court no later than April 10, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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