Lawsuit Pending for Investors in Spire Global, Inc. (NYSE: SPIR) Shares – Contact Shareholders Foundation

Investors in Spire Global, Inc. (NYSE: SPIR) are facing a potential lawsuit over alleged securities laws violations. The lawsuit, filed by an investor in NYSE: SPIR shares, claims that the company failed to disclose certain key information to investors, leading to misleading statements about its business operations and prospects.

On August 14, 2024, Spire Global, Inc. announced a delay in its 10-Q filing for the quarter ending June 30, prompting concerns among investors. The company also revealed plans to reschedule its second-quarter results conference call once the filing date is confirmed.

The lawsuit alleges that Spire Global had embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts, leading to revenue recognition issues. As a result, the company is accused of overstating revenue for these contracts, which in turn misled investors about the company’s financial health.

Investors who purchased shares of Spire Global, Inc. (NYSE: SPIR) prior to August 2022 and still hold those shares are urged to contact the Shareholders Foundation for more information on their legal options. The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service that provides information on shareholder issues and securities class actions.

For more information, investors can contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554. Stay tuned for updates on this developing story as more information becomes available.

Source: Shareholders Foundation, Inc.