Los Angeles, California–(Newsfile Corp. – April 21, 2020) – The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against CPI Aerostructures, Inc. (NYSE American: CVU) (“CPI” or “the Company”) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 15, 2018 and February 14, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before April 24, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. CPI’s financial statements, including its Form 10-Q for the first, second, and third quarters of 2018 and 2019 overstated revenue, net income, retained earnings, and contract assets due to the misapplication of GAAP. The Company lacked sufficient controls on financial reporting and effective disclosure procedures. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about CPI, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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The Schall Law Firm
Brian Schall, Esq.,
The Schall Law Firm