WAYNE, Pa., June 7, 2013 /PRNewswire/ -- Ryan &
Maniskas, LLP (www.rmclasslaw.com/cases/spr) announces that a class
action lawsuit has been filed in United States District Court for
the District of Kansas on behalf
of purchasers of Spirit AeroSystems Holdings, Inc. ("Spirit
AeroSystems" or the "Company") (NYSE: SPR) common stock during the
period between May 5, 2011 and
October 24, 2012, inclusive (the
"Class Period").
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For more information regarding this class action suit, please
contact Ryan & Maniskas, LLP (Richard
A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/spr.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants'
failure to disclose during the Class Period that the Company was
having difficulties executing its diversification and growth
strategy as it expanded its customer-base, manufacturing sites, and
product design capabilities, while managing multiple development
programs with significant design changes and schedule delays, and
that the Company lacked adequate internal and financial controls
over cost overruns associated with its 787 program, G650 Wing
program, BR725 program and G280 Wing program. According to the
complaint, following the Company's October
25, 2012 disclosure that it expected to record charges
against 2012 earnings, and to future years' earnings, totaling
$590 million, attributed to
significant operational problems with the Company's 787 program,
G650 Wing program, BR725 program, G280 Wing program, and other
combined programs, the value of Spirit AeroSystems shares declined
significantly.
On October 25, 2012, the Company
disclosed that it expected to record charges against 2012 earnings
and future years' earnings totaling $590
million, attributed to significant operational problems
across multiple product lines. On this news, Spirit AeroSystems
stock fell from a close of $21.66 per
share on October 24, 2012, to a close
of $15.11 per share the following
day.
If you are a member of the class, you may, no later than
August 2, 2013, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information about the case or to participate online,
please visit: www.rmclasslaw.com/cases/spr or contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218, or by e-mail at rmaniskas@rmclasslaw.com. For more
information about class action cases in general or to learn more
about Ryan & Maniskas, LLP, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT:
Ryan & Maniskas, LLP
Richard
A. Maniskas, Esquire
995 Old Eagle School Rd.,
Suite 311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/spr
rmaniskas@rmclasslaw.com
SOURCE Ryan & Maniskas, LLP