Spire (SPIR) Prnewswire·2024-10-07 09:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Spire Global, Inc. regarding a class action lawsuit alleging misleading statements and lack of internal controls related to revenue recognition for certain Space Services contracts [1][2]. Group 1: Allegations - The complaint alleges that during the class period from March 6, 2024, to August 14, 2024, Spire Global made materially false and/or misleading statements [1]. - Specific allegations include the existence of embedded leases for identifiable assets and pre-space mission activities that were not disclosed [1]. - It is claimed that Spire Global lacked effective internal controls regarding revenue recognition, leading to an overstatement of revenue for certain contracts [1]. Group 2: Shareholder Actions - Shareholders who purchased shares during the specified class period are encouraged to register for the class action and may seek lead plaintiff status by the deadline of October 21, 2024 [2]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case [2]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect the rights of investors affected by deceit and illegal business practices, ensuring companies adhere to responsible business practices [3]. - The firm seeks recovery for investors who suffered losses due to misleading statements or omissions that inflated stock prices [3].