Shareholder Alert: Robbins LLP Announces Spirit AeroSystems Holdings, Inc. (SPR) Sued for Misleading Shareholders
11 Februar 2020 - 10:33PM
Business Wire
Shareholder rights law firm Robbins LLP announces that a
purchaser of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) filed a
class action complaint against the Company for alleged violations
of the Securities Exchange Act of 1934 between October 31, 2019 and
January 29, 2020. Spirit designs, manufactures, and supplies
commercial aero structures in the United States and internationally
and is the biggest supplier in the Boeing Co. 737 MAX program.
If you suffered a loss as a result of Spirit's misconduct, click
here.
Spirit AeroSystems Holdings, Inc. (SPR) Accused of Misleading
Shareholders
According to the complaint, on October 31, 2019, Spirit filed
its 3Q 2019 Form 10-Q with the SEC stating in relevant part that
after evaluation, the Company had "concluded that [its] disclosure
controls and procedures are effective to provide reasonable
assurance that information required…is recorded, processed,
summarized and reported." Despite this assurance, on January 30,
2020, Spirit released a press release announcing that following an
internal review of Spirit's accounting process compliance, the
Company had determined that it did not comply with its established
accounting processes related to certain potential contingent
liabilities. As a result, Spirit's Chief Financial Officer and
Principal Accounting Officer resigned from their positions. The
review is ongoing to determine whether the Company's financial
statements will be materially impacted. On this news, Spirit's
shares fell approximately 4% to close at $65.08 per share.
Spirit AeroSystems Holdings, Inc. (SPR) Shareholders Have
Legal Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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version on businesswire.com: https://www.businesswire.com/news/home/20200211006043/en/
Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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