SAN DIEGO, CA / ACCESSWIRE / April 7, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in CPI Aerostructures, Inc. (NYSE:CVU) shares.
Investors, who purchased shares of CPI Aerostructures, Inc. (NYSE:CVU), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that 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, that 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, that 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, that CPI Aerostructures lacked effective disclosure controls and procedures during the third quarter of 2019, and that 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.
Those who purchased CPI Aerostructures, Inc. (NYSE:CVU) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.