Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Spirit Aero
Systems Holding, Inc.
NEW YORK, Nov. 28, 2012
NEW YORK, Nov. 28, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the securities of
Spirit Aero Systems, Inc. ("Spirit" or the "Company") (NYSE: SPR -News). The
investigation focuses on whether the Company and its executive's violated
federal securities laws by disclosing misguided statements regarding the
Company's business prospects.
On October 25, 2012, Shares of Spirit plummeted 32% or $6.97 to close at
$14.69 after the company disclosed that it will take a charge of $590 million,
or $1.82 per share, in the third quarter. The news threw into question the
company's profit for the quarter, and raised questions about Spirit's ability
to forecast performance. Some analysts had expected Spirit to post 53 cents a
share in profit when it reports earnings next week. Spirit has a history of
recording charges for plane programs, but the size of the charges caught the
market off guard. "Management had previously mentioned that charges would
likely come through this quarter, but this magnitude is a surprise," one
analyst said in a note to clients.
If you are aware of any facts relating to this investigation, or purchased
shares of Spirit, you can assist this investigation by contacting either
Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email firstname.lastname@example.org. Those who inquire by e-mail are
encouraged to include their mailing address and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our
primary expertise is the aggressive pursuit of litigation claims on behalf of
our clients. In addition to representing institutions and other investor
plaintiffs in class action security litigation, the firm's expertise includes
general corporate and commercial litigation, as well as securities
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
SOURCE Bronstein, Gewirtz & Grossman, LLC
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