NEW YORK, June 6, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of Kansas on behalf of investors who purchased Spirit AeroSystems Holdings, Inc. ("Spirit AeroSystems" or the "Company") (NYSE:SPR) stock between May 5, 2011 through October 24, 2012.
For more information, click here: http://zlk.9nl.com/spirit-aerosystems-holdings-spr/.
The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (a) the Company was having difficulties executing its diversification and growth strategy as it expanded its customer-base, manufacturing sites, and product design capabilities, while managing multiple development programs with significant design changes and schedule delays; (b) the Company lacked adequate internal and financial controls, particularly in relation to cost overruns on its 787, G650 Wing, BR725, and G280 Wing programs; and (c) as a result of the above, the Company's financial statements were materially false and misleading at all relevant times.
On October 25, 2012, the Company disclosed that it expected to record charges against 2012 earnings and future years' earnings totaling $590 million, attributed to significant operational problems across multiple product lines. On this news, Spirit AeroSystems stock fell from a close of $21.66 per share on October 24, 2012, to a close of $15.11 per share the following day.
If you suffered a loss in Spirit AeroSystems you have until August 2, 2013to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/spirit-aerosystems-holdings-spr/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.