Spire Global (SPIR) Class Action Lawsuit Alert: Johnson Fistel Announces Shareholders with Losses Should Contact the Law Firm for More Information
Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Spire Global, Inc. (“Spire” or “the Company”) (NYSE: SPIR).
If you incurred significant losses and want to act as the lead plaintiff in the Spire Global class action lawsuit or determine if you are eligible to receive a potential recovery of your losses, please submit your details here:
CLASS PERIOD: March 6, 2024 and August 14, 2024
LEAD PLAINTIFF DEADLINE: October 21, 2024
DOCKET #: 1:24-cv-01458 (ED. Virginia)
ALLEGATIONS: False and/or misleading statements
Contact for More Information: James Baker, (619) 814-4471, jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
Contact for More Information: James Baker, (619) 814-4471, jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
According to the Complaint, the Company made false and misleading statements to the market. Spire’s Space Services contracts included embedded leases of identifiable assets. The Company failed to maintain appropriate internal controls over revenue recognition. The Company overstated revenue for certain Space Services contracts. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Spire, investors suffered damages.
Investor Action Steps: Shareholders who incurred losses during the class period, have until October 21, 2024, to move the court to become a lead plaintiff in this action.A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
In August 2024, Johnson Fistel initiated an investigation into Spire. The investigation revealed that on August 14, 2024, after the market closed, Spire announced a delay in its 10-Q filing for the quarter ending June 30. This postponement was communicated to the Securities and Exchange Commission (SEC). Additionally, Spire disclosed plans to reschedule its second-quarter results conference call, with the new date and time to be determined once the filing date for its Form 10-Q is confirmed. For more information about this investigation click on the following link: https://www.johnsonfistel.com/investigations/spire-global-inc