Block & Leviton Files Class Action Lawsuit Against CPI Aerostructures for Securities Fraud
BOSTON, Feb. 25, 2020 (GLOBE NEWSWIRE) -- Block & Leviton (www.blockesq.com), a law firm dedicated to protecting investor rights nationwide, has filed a federal class action lawsuit against CPI Aerostructures, Inc. (NYSE: CVU) and certain of its officers for securities fraud. If you purchased CPI securities between May 15, 2018 and February 14, 2020 (the “Class Period”), you may have been a victim of the alleged fraud and are encouraged to contact the firm for more information.
The Complaint, which was filed in the U.S. District Court of Eastern New York, and captioned Garrett v. CPI Aerostructures, Inc., et. al., No. 1:20-cv-1026 (E.D.N.Y.), alleges that CPI filed false and misleading financial statements beginning on May 15, 2018 – misleading investors by attributing increasing revenues to the strategic vision of senior management, when it was really accomplished by accounting sleight of hand. When the truth was revealed, the Company’s share price crashed, losing almost 27% of its value.
“The recurring nature of the accounting errors is concerning and raises concerns about the company’s internal controls,” said Mark Delaney, the attorney leading Block & Leviton’s investigation.
If you wish to serve as lead plaintiff in this matter, 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 have purchased or acquired CPI securities during the Class Period, and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney directly at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting http://shareholder.law/cpi.
Block & Leviton LLP is a firm dedicated to representing investor and maintaining the integrity of the country’s financial markets. The firm represents both many of the nation's largest institutional investors and individual investors in securities litigation throughout the United States. Its lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mark@blockesq.com
SOURCE Block & Leviton LLP
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