San Diego, CA -- (SBWire) -- 05/17/2023 --An investor, who purchased shares of Spirit AeroSystems Holdings, Inc. (NYSE: SPR), filed a lawsuit over alleged Securities Laws violations by Spirit AeroSystems Holdings, Inc.
Investors who purchased shares of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) have certain options and for certain investors are short and strict deadlines running. Deadline: July 03, 2023. NYSE: SPR investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Wichita, KS based Spirit AeroSystems Holdings, Inc. engages in the design, engineering, manufacture, and marketing of commercial aerostructures worldwide. On April 13, 2023, The Boeing Company ("Boeing") disclosed that it was pausing deliveries on some 737 MAX jets to address incorrectly installed parts. News outlets reported that the issues seem to be related to two fittings that Spirit AeroSystems Holdings, Inc. attaches to the jet's vertical tail.
The same day, Bloomberg identified Spirit AeroSystems Holdings, Inc as the supplier of the faulty part. Several media outlets reported the details of the quality problem. An article by Reuters reported that "[t]he problem involves the installation of two fittings that join the aft fuselage made by Spirit to the vertical tail, which were not attached correctly to the structure of the fuselage before it was sent to Boeing." Reuters also reported that "Spirit said it is working to develop an inspection and repair for the affected fuselages" and that "the problem is believed to date back to 2019."
Shares of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) declined to $23.21 per share on May 12, 2023.
The plaintiff claims that between April 8, 2020 and April 13, 2023, the Defendants failed to disclose to investors that Spirit lacked effective production quality controls, that, as a result, Spirit incorrectly installed fittings designed to join the aft fuselage to the vertical tail for some Boeing 737 Max airplanes that Spirit sent to Boeing, that, as a result, Spirit would have to develop an inspection and repair procedure for the affected fuselages, that the foregoing would negatively impact Spirit's financial results, and that as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of Spirit AeroSystems Holdings, Inc. (NYSE: SPR) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE: SPR Investor Notice: Lawsuit Alleges Misleading Statements by Spirit AeroSystems Holdings, Inc.
A lawsuit was filed on behalf of investors in Spirit AeroSystems Holdings, Inc. (NYSE: SPR) shares over alleged securities laws violations.