According to the Complaint, Spirit AeroSystems Holdings, Inc. purports to design, manufacture, and supply commercial aero structures in the United States and internationally.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company did not comply with its established accounting principles related to potential contingent liabilities; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On April 23, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on July 20. Defendants filed a Motion to Dismiss the consolidated Complaint on September 18.

On January 7, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice. Lead Plaintiff filed a notice appealing the Court's Dismissal Order on February 4.

On August 21, 2023, the Court of Appeals affirmed the District Court's Dismissal Order.