According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- there were embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts;
- Spire Global lacked effective internal controls regarding revenue recognition for these contracts;
- as a result, Spire Global overstated revenue for certain Space Services contracts; and
- as a result of the foregoing, defendants’ positive statements about Spire Global’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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