NEW YORK - Bragar Eagel & Squire, P.C., a law firm specializing in shareholder rights, is conducting investigations into Spirit AeroSystems (NYSE:SPR) Holdings, Inc. (NYSE: SPR) and Mobileye Global Inc. (NASDAQ: NASDAQ:MBLY) for potential federal securities law violations and other illicit business activities. The investigations follow recent incidents that have negatively impacted the companies' stock prices.
Spirit AeroSystems faced scrutiny after an incident involving an Alaska Airlines Boeing (NYSE:BA) 737 aircraft on January 5, 2024, where a cabin door plug detached in-flight, leading to cabin depressurization and an emergency landing. Subsequently, on January 6, the Federal Aviation Administration (FAA) mandated grounding of the Boeing 737-9 aircraft until thorough inspections and corrective actions are completed. This news led to a significant drop in Spirit's stock price, which fell $3.53 per share, or 11.13%, by the close of the market on Monday, January 8, 2024.
Similarly, Endeavour Mining plc (OTC: EDVMF) is under the law firm's lens after the company's Board of Directors dismissed President and CEO Sebastien de Montessus. The termination on January 4, 2024, was due to "serious misconduct" related to an unauthorized $5.9 million payment instruction concerning an asset disposal. This development caused Endeavour's stock to decline $2.20 per share, or 10.14%, ending the day at $19.50 per share.
Bragar Eagel & Squire, P.C. is known for representing both individual and institutional investors in complex litigation across various state and federal courts in the United States. The firm's investigations could potentially lead to legal actions if violations are confirmed.
Additional details regarding the investigations into Spirit AeroSystems and Mobileye Global Inc. can be found through the law firm's provided links. The information for this article is based on a press release statement.
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