Kaskela Law LLC Announces Shareholder Class Action Lawsuit Filed Against CPI Aerostructures, Inc. (CVU) & Encourages Investor...
March 18 2020 - 6:51PM
Business Wire
Kaskela Law LLC announces that a shareholder class action
lawsuit has been filed against CPI Aerostructures, Inc. (“CPI” or
the “Company”) (NYSE: CVU) on behalf of investors who purchased
shares of CPI’s stock between May 15, 2018 and February 14,
2020, inclusive (the “Class Period”).
CPI investors who suffered an investment loss in excess of
$100,000 are encouraged to contact Kaskela Law LLC (David Seamus
Kaskela, Esq.) at (484) 258 – 1585 or (888) 715 – 1740, or online
at http://kaskelalaw.com/case/cpi-aerostructures-inc/, for
additional information about this action and their legal rights and
options.
The shareholder class action complaint alleges that CPI and
certain executive officers issued a series of false and misleading
statements to investors during the Class Period about the Company’s
financial statements.
On February 14, 2020, CPI disclosed that its 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 its Chief Financial
Officer had resigned. Following this news, shares of the
Company’s 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.
IMPORTANT DEADLINE: Investors who purchased CPI’s common
stock during the Class Period may, no
later than April 24, 2020, seek to be appointed as a
lead plaintiff representative in the action.
For additional information about this action please contact
Kaskela Law LLC. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200318005794/en/
David 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
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From Mar 2024 to Apr 2024
CPI Aerostructures (AMEX:CVU)
Historical Stock Chart
From Apr 2023 to Apr 2024