Law Offices of Howard G. Smith announces an investigation on behalf of Spire Global, Inc. (“Spire” or the “Company”) (NYSE: SPIR) investors concerning the Company’s possible violations of federal securities laws.
On August 14, 2024, Spire disclosed that it would not file its quarterly report for the second quarter 2024 on time because it “is in the process of reviewing its accounting practices and procedures with respect to revenue recognition related to certain contracts in its ‘Space as a Service’ business.” The Company further disclosed that “the type of Contracts that the Company has identified for re-evaluation resulted in recognized revenue of approximately $10 to $15 million on an annual basis.”
On this news, Spire’s stock price fell $3.41, or 33.6%, to close at $6.75 per share on August 15, 2024, thereby injuring investors.
If you purchased Spire securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240816006810/en/
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
