NEW YORK, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of investors of CPI Aerostructures, Inc. (NYSE: CVU) who purchased securities: (1) pursuant and/or traceable to CPI Aerostructures’ public offering held on or around October 17, 2018; and (2) between October 17, 2018 and February 7, 2019, both dates inclusive. The Rosen Law Firm is investigating allegations that CPI Aerostructures may have issued materially misleading business information to the investing public.
On February 8, 2019, before the market opened, CPI Aerostructures disclosed that its financial statements for the three and nine months ended September 30, 2018 reported in its Form 10-Q could no longer be relied upon due to an “error . . . in the Company’s billing process.” According to CPI Aerostructures, the alleged error inflated its revenue and income before provision for income taxes, net income, and earnings per share for each such period. On this news, shares of CPI Aerostructures fell $0.59 per share or 8.5% to close at $6.34 per share on February 8, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by CPI Aerostructures investors. If you purchased shares of CPI Aerostructures please visit the firm’s website at https://www.rosenlegal.com/cases-1506.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
Zachary Halper, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 34th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
zhalper@rosenlegal.com
www.rosenlegal.com