Press release from PR Newswire
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Spirit Aero Systems Holding, Inc.
Wednesday, November 28, 2012
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Spirit Aero Systems Holding, Inc.08:30 EST Wednesday, November 28, 2012NEW YORK, Nov. 28, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Spirit Aero Systems, Inc. ("Spirit" or the "Company") (NYSE: SPR -News). The investigation focuses on whether the Company and its executive's violated federal securities laws by disclosing misguided statements regarding the Company's business prospects. On October 25, 2012, Shares of Spirit plummeted 32% or $6.97 to close at $14.69 after the company disclosed that it will take a charge of $590 million, or $1.82 per share, in the third quarter. The news threw into question the company's profit for the quarter, and raised questions about Spirit's ability to forecast performance. Some analysts had expected Spirit to post 53 cents a share in profit when it reports earnings next week. Spirit has a history of recording charges for plane programs, but the size of the charges caught the market off guard. "Management had previously mentioned that charges would likely come through this quarter, but this magnitude is a surprise," one analyst said in a note to clients.If you are aware of any facts relating to this investigation, or purchased shares of Spirit, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.Contact:Bronstein, Gewirtz & Grossman, LLCPeretz Bronstein or Eitan Kimelman, email@example.comSOURCE Bronstein, Gewirtz & Grossman, LLC