Press release from Business Wire
Hagens Berman Notifies Spirit AeroSystems Holdings, Inc. Investors of Aug. 2, 2013, Lead Plaintiff Deadline
Tuesday, June 11, 2013
Hagens Berman Notifies Spirit AeroSystems Holdings, Inc. Investors of Aug. 2, 2013, Lead Plaintiff Deadline09:35 EDT Tuesday, June 11, 2013
BERKELEY, Calif. (Business Wire) -- Hagens Berman Sobol Shapiro, LLP, a national investor-rights law firm, is notifying investors in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) (“SPR” or “the Company”) of the Aug. 2, 2013, deadline to seek the role of lead plaintiff in a lawsuit filed on their behalf. Investors who suffered significant losses are welcome to contact Hagens Berman Partner Reed Kathrein, who is leading the firm's investigation, by emailing SPR@hbsslaw.com or calling 510-725-3000.
If you purchased shares of 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. Kathrein 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. The charges were attributed to significant operational problems in its product lines. 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's investigation centers on 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.
“Our concern is that Spirit AeroSystems knew more than they were letting on,” said Mr. Kathrein. “It seems odd that nearly $600 million in charges could have come on so suddenly and unexpectedly—particularly just after insiders unloaded several million dollars of their shares in the company.”
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.
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