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.