NEW YORK, July 12, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Spirit AeroSystems Holdings, Inc. ("Spirit" or the "Company") (NYSE: SPR).
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The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Spirit: (i) failed to properly execute its diversification and growth strategy; and (ii) lacked adequate internal and financial controls, especially relating to cost overruns for the Company's 787 program, G650 Wing program, BR725 program, the G280 Wing program, and other programs (collectively, the "Programs").
On October 25, 2012, Spirit announced that it expected to record pre-tax charges on the Programs for a total of approximately $590 million. Following this news, the Company's stock dropped $6.55 or over 30%.
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Take Action
If you invested in Spirit stock or options between May 5, 2011 and October 24, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/SPR. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Spirit's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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