Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Spire Global, Inc. (NYSE: SPIR) securities.
If you suffered a loss on your Spire Global investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 06 2024 - Aug 14 2024
CASE DETAILS: The filed complaint alleges that Spire Global, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there were embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts, which allows customers to deploy their own applications and sensors via satellite; (2) Spire Global lacked effective internal controls regarding revenue recognition for these contracts; (3) as a result, the Company overstated revenue for certain Space Services contracts; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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