LOS ANGELES, Sept. 30, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Spire Global, Inc. ("Spire Global" or the "Company") (NYSE: SPIR) investors of a class action representing investors that bought securities between March 6, 2024 and August 14, 2024, inclusive (the "Class Period"). Spire Global investors have until October 21, 2024 to file a lead plaintiff motion.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Case Details: The complaint claims that the defendants made false statements and/or concealed critical information, including: (1) the existence of embedded leases for identifiable assets and pre-space mission activities in certain Space Services contracts, which allowed customers to deploy their own applications and sensors via satellite; (2) Spire Global’s lack of effective internal controls for revenue recognition related to these contracts; (3) as a result, the company overstated revenue for specific Space Services contracts; and (4) due to these issues, the defendants’ positive statements about the company’s business, operations, and future prospects were materially misleading and lacked a reasonable basis.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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