Spirit AeroSystems Holding, Inc.
A securities class action has been filed in the USDC – S.D.N.Y. against Spirit AeroSystems Holdings, Inc. (SPR) (“Spirit” or the “Company”) on behalf of persons and entities that purchased or otherwise acquired Spirit AeroSystems securities between April 8, 2020 through April 13, 2023.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, 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.
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