Have you lost money investing in Spirit AeroSystems? If yes, please visit us Spirit AeroSystems Holdings, Inc. Shareholder Class Action or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com to discuss your rights.
NEW YORK, May 10, 2023 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors in the has purchased or acquired the securities of Spirit AeroSystems Holdings, Inc. (“Spirit” or the “Company”) SPR between April 8, 2020 and April 13, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of New York alleging violations of the Securities Exchange Act of 1934.
Spirit is a non-original equipment manufacturer serving commercial aircraft, military platform and business/regional jet markets. The company’s core products include fuselages, integrated wings and wing components, pylons and nacelles. Spirit’s largest customer is Boeing Co. (“Boeing”). Spirit and Boeing have long-term supply agreements under which Spirit supplies products for several Boeing aircraft, including the B737. The supply contracts cover, among other things, the term of the aircraft programs.
Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements. Specifically, Plaintiff alleges that Defendants failed to disclose: (1) Spirits lacked effective production quality controls; (2) As a result, Spirit incorrectly installed fittings intended to connect the rear fuselage to the vertical stabilizer on some Boeing 737 Max aircraft that Spirit shipped to Boeing; (3) as a result, Spirit would need to develop an inspection and repair procedure for the affected hulls; and (4) the foregoing would adversely affect Spirit’s financial results.
On April 13, 2023, after…
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