The Law Offices of Frank R. Cruz announces an investigation of New Horizon Aircraft Ltd. (“New Horizon” or the “Company”) (NASDAQ: HOVR, HOVRW) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On April 22, 2024, New Horizon disclosed that previously issued financial statements for the year ended May 31, 2023 and the period ended August 31, 2023 should no longer be relied upon due to “the deferred development costs recorded by Robinson Aircraft Ltd. f/k/a Robinson Aircraft ULC” being “more appropriately classified as research and development costs.”
On this news New Horizon’s stock price fell $0.12, or 4.8%, to close at $2.29 per share on April 22, 2024, thereby injuring investors.
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If you purchased New Horizon securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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