SAN DIEGO & EDGEWOOD, N.Y.--(BUSINESS WIRE)--
Shareholder rights law firm Robbins Arroyo LLP announces it is investigating CPI Aerostructures, Inc. (NYSE American: CVU) resulting from allegations that CPI Aerostructures may have issued materially misleading information to the investing public. CPI is a United States supplier of aircraft parts in both commercial and defense markets.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/cpi-aerostructures/
CPI Discovers Material Weakness in Its Financial Reporting
On February 7, 2019, CPI's Audit Committee determined that the company's previously issued financial statements should no longer be relied on due to an error in the financial statements. According to CPI, the alleged error inflated its revenue and income before provision for income taxes, net income, and earnings per share for each such period. As a result, CPI will have to reduce revenue and income by $900,000 to $950,000, net income by $725,000 to $775,000, and fully diluted earnings per share by $ 0.09.
CPI Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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