18 Days Remain before Lead Plaintiff Deadline in Spirit AeroSystems Holdings, Inc. Class Action, Hagens Berman Reminds Investors
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.
Copyright Business Wire 2013