According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that:
- Spirit Aviation was at substantial risk of being unable to meet certain of its debt and other financial obligations;
- Spirit Aviation was also at substantial risk of being forced to file for Chapter 11 bankruptcy protection within a mere matter of months;
- accordingly, defendants had overstated enhancements to Spirit Aviation’s financial condition, liquidity, and overall business and operations, while simultaneously downplaying the negative impacts of adverse market conditions on the same; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
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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