INVESTOR ALERT: Kaskela Law LLC Announces Shareholder Investigation of CPI Aerostructures, Inc. (CVU) & Encourages Investors ...
February 17 2020 - 5:41PM
Business Wire
Kaskela Law LLC is investigating CPI Aerostructures, Inc. (“CPI”
or the “Company”) (NYSE:CVU) on behalf of the Company’s
investors.
CPI investors are encouraged to contact Kaskela Law LLC
(David Seamus Kaskela, Esq.) at (484) 258 – 1585, or online at
http://kaskelalaw.com/case/cpi-aerostructures-inc/, to discuss this
investigation and their legal rights and options.
On February 14, 2020, CPI disclosed that the Company’s 2018 and
2019 financial statements “should no longer be relied upon due to
an error in those financial statements relating to the Company’s
recognition of revenue from contracts with customers under ASC
Topic 606,” and that its financial statements would need to be
restated. Additionally, CPI disclosed that “a material weakness
existed in the Company’s internal control over financial reporting
as of the end of each of the affected periods,” and that its Chief
Financial Officer had resigned.
Following this news, shares of the Company’s common stock
declined $1.80 per share, or nearly 30% in value, to close on
February 14, 2020 at $4.87 per share, on heavy trading
volume.
CPI investors are encouraged to contact Kaskela Law LLC to
discuss this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities
fraud, corporate governance, and merger & acquisition
litigation. For additional information about Kaskela Law LLC please
visit www.kaskelalaw.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20200217005490/en/
D. Seamus Kaskela, Esq. KASKELA LAW LLC 18 Campus
Boulevard, Suite 100 Newtown Square, PA 19073 (484) 258 – 1585
(888) 715 – 1740 www.kaskelalaw.com skaskela@kaskelalaw.com
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