Aerojet investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Aerojet designs, develops, manufactures, and sells aerospace and defense products and systems along with a real estate segment that includes activities related to the re-zoning, entitlement, sale, and leasing of the company’s excess real estate assets. Aerojet develops and manufactures propulsion systems for defense and space applications, and armaments for precision tactical and long-range weapon systems applications. Aerojet’s operations are organized into two segments: (i) Aerospace and Defense and (ii) Real Estate.
The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements about the company’s business, operations, and prospects. Specifically, that complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (1) the purchase accounting for contracts acquired as part of the acquisition of the Pratt & Whitney Rocketdyne division from United Technologies Corporation in the quarter ended August 31, 2013 was erroneous; (2) the accounting for changes or modifications to one of the acquired Rocketdyne Business contracts beginning in the quarter ended February 28, 2014 was erroneous; and (3) as a result, the defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
The Class Period begins on October 15, 2013, when the company filed a Form 10-Q with the SEC for the quarter ending August 31, 2013.
According to the complaint, on February 1, 2016, after the market closed, the company filed a Form 8-K with the SEC disclosing that consolidated financial statements as of and for the fiscal years ended November 30, 2013 and 2014, and the consolidated financial statements as of and for the quarter ended August 31, 2013, and the consolidated financial statements as of and for the quarters ended February 28, May 31 and August 31, 2014 and 2015 and should no longer be relied upon.
Following this news, shares of Aerojet fell $0.56 per share, or over 3.6%, from its previous closing price to close at $14.68 per share on February 2, 2016.
If you are a member of the class described above, you may no later than April 11, 2016 , move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at firstname.lastname@example.org. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
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