(English) CPI Aerostructures, Inc.
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(English) SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against CPI Aerostructures, Inc. – CVU
New York, N.Y., February 25, 2020. Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of CPI Aerostructures, Inc. (NYSE:CVU) between May 15, 2018 and February 14, 2020, inclusive (the “Class Period”).
To join the CVU class action, go to http://zhanginvestorlaw.com/cases/cpi-aerostructures-inc/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. ONE NEED NOT BE LEAD PLAINTIFF IN ORDER TO OBTAIN COMPENSATION.
According to the lawsuit, throughout the Class Period (1) CPI Aerostructures’ financial statements included in the Company’s Forms 10-Q for the first, second, and third quarters of 2018 and 2019 incorrectly applied generally accepted accounting principles and thus revenue, net income, retained earnings, and contract assets were overstated; (2) as a result, the financial statements included in the Form 10-Qs for 2018 and 2019 and the annual report on Form 10-K for 2018 could no longer be relied upon and required restatement; (3) CPI Aerostructures lacked adequate internal controls over financial reporting and effective disclosure controls and procedures as of the period during each reporting period of 2018; (4) CPI Aerostructures lacked effective disclosure controls and procedures during the third quarter of 2019; and (5) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 24, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/cpi-aerostructures-inc/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at firstname.lastname@example.org.
Zhang Investor Law represents investors worldwide.