LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) (NYSE: SPR) securities between October 31, 2019 and January 29, 2020, inclusive (the “Class Period”). Spirit investors have until April 10, 2020 to file a lead plaintiff motion.
If you suffered a loss on your Spirit investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information here or contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, via email email@example.com or visit our website at www.glancylaw.com to learn more about your rights.
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,” Spirit’s 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. To be a member of the Class 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. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.