18 Days Remain before Lead Plaintiff Deadline in Spirit AeroSystems Holdings, Inc. Class Action, Hagens Berman Reminds Invest...
16 Juli 2013 - 3:30PM
Business Wire
Hagens Berman Sobol Shapiro, LLP, a national investor-rights law
firm, today reminded investors that only 18 days remain before the
Aug. 2, 2013 deadline in a securities class action lawsuit filed
against Spirit AeroSystems Holdings, Inc. (NYSE: SPR) (“SPR” or
“the Company”). Investors who suffered significant losses are
welcome to contact Hagens Berman Partner Peter Borkon by emailing
SPR@hbsslaw.com or calling (510) 725-3000.
Investors who purchased SPR common stock between May 5, 2011,
and Oct. 24, 2012, inclusive (the “Class Period”), suffered
significant losses and wish to be a lead plaintiff in the pending
class action, you may also contact Mr. Borkon by submitting
information at http://www.hb-securities.com/investigations/SPR.
On Oct. 25, 2012, SPR disclosed for the first time that it
expected to record $590 million in charges against 2012 and future
years’ earnings, attributed to significant operational problems in
its product lines. The impending charges may result in write-downs
of nearly 20 percent of SPR’s contractual revenues. Following the
disclosure, SPR’s stock price fell sharply by $6.55 per share—or 30
percent—to close at $15.11 on Oct. 25, 2012.
Hagens Berman is investigating whether or not SPR was aware of
these charges prior to the disclosure and if the company made false
and/or misleading statements that led to significant investor
losses.
“We believe that SPR was not forthcoming with its investors,”
said Mr. Borkon. “On the heels of significant insider selling, the
company announced nearly $600 million in charges. Insiders must
have known these charges would have a material impact on the stock
price – that alone raises a lot of questions.”
Investors who wish to serve as lead plaintiff in the case must
move the court no later than Aug. 2, 2012. Any investor during the
Class Period may file to serve as lead plaintiff through counsel of
their choice, or may choose to do nothing and remain an absent
class member.
Hagens Berman reminds whistleblowers with inside information
that rewards may be available to individuals who report information
leading to a successful enforcement action by the Securities and
Exchange Commission. Under the new SEC whistleblower program,
whistleblowers who provide original information may receive rewards
totaling up to 30 percent of any successful recovery made by the
SEC.
About Hagens Berman
Hagens Berman Sobol Shapiro, LLP is an investor-rights
class-action law firm with offices in 10 cities. The firm
represents investors, whistleblowers, workers and consumers in
complex litigation. More about the law firm and its successes can
be found at www.hbsslaw.com. The Firm’s securities law blog is at
http://www.meaningfuldisclosure.com.
Firmani + AssociatesMark Firmani,
206-443-9357Mark@firmani.com
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