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Stock impact report

INVESTOR ALERT: Law Offices of Howard G. Smith Continues its Investigation of CPI Aerostructures, Inc. (CVU) on Behalf of Investors

CPI Aerostructures, Inc. (CVU) 
NASDAQ:AMEX Investor Relations: cpiaero.com
Company Research Source: Business Wire
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its investigation on behalf CPI Aerostructures, Inc. (“CPI or the “Company”) (NYSE: CVU) investors concerning the Company and its officers’ possible violations of federal securities laws.On February 8, 2019, CPI announced that its previously issued financial statements for the three and nine months ended September 30, 2018 should no longer be relied upon due to an error related to the Company’s billing process which caused an overstatement of revenue.On this news, CPI’s share price fell 8.5% to close at $6.34 per share on February 8, 2019, thereby injuring investors.Then, on February 14, 2020, CPI announced that its financial statements for fiscal 2018 and 2019 should no longer be relied upon because “certain revenues and net income were recognized prematurely or inaccurately.” Additionally, the Company announced that its Chief Financial Officer had resigned.On this news, the Company’s stock price fell $1.80, Show less Read more
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