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SPR.US
id: 698, Created by Stan Vick Chase, Scout
Join Spirit AeroSystems (SPR) Case to Fight Losses
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
- Boeing announced that it would halt deliveries of its 737 MAX aircraft due to a supplier quality problem. Bloomberg identified Spirit AeroSystems Holdings, Inc. (SPR) as the supplier of the faulty part.
- $SPR price fell 20.7%, damaging investors.
- Investors suspect Spirit & its Leaders of negligance & misleading, which led to investment losses for shareholders.
On April 13, 2023, Boeing announced that it would halt deliveries of its 737 MAX aircraft due to a supplier quality problem. According to an article by Barron’s, Boeing issued a statement stating that “the issue will likely affect a significant number of undelivered 737 MAX airplanes.”
- Bloomberg identified Spirit AeroSystems Holdings, Inc. (SPR) as the supplier of the faulty part.
- An article by Reuters reported that “the 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.”
On this news, the $SPR price fell 20.7%, damaging investors.
Taking all the facts into account, Investors have reasons to suspect Spirit and its Leaders of negligance and misleading which led to investment losses for shareholders. Specifically, the complaint alleges:
- 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.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 April 2023
Case number
1:23-cv-03722
Filing date
03 May 2023
Class period Start
08 April 2020
Class period End
13 April 2023
Lead Plaintiff Deadline
03 July 2023
Court
Southern District of New York