NEW YORK - January 22, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against FTAI Aviation Ltd. (“FTAI Aviation” or the “Company”) (NASDAQ: FTAI) on behalf of investors that purchased or otherwise acquired FTAI Aviation securities between July 23, 2024 and January 15, 2025 (the “Class Period”).
If you are an investor in FTAI Aviation and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than March 18, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
On January 15, 2025, Muddy Waters Research published a report entitled, “FTAI Aviation: Financial Engineering and Accounting Manipulation in the MRO Business” (“the Short-Seller Report”). Among other things, the Short-Seller Report alleges that “FTAI materially manipulates its financials” by “exaggerating the size of its aftermarket aerospace business,” “presenting whole engine sales as individual module sales,” “inflating Aerospace Products’ EBITDA margins by means of over-depreciation in the leasing segment,” and “engaging in channel stuffing.”
On January 15, 2025, the price of FTAI Aviation stock fell $37.21 per share, over 24%, to close at $116.08 per share.
Then, on January 21, 2025, FTAI Aviation announced in an 8-K filing with the Securities and Exchange Commission that the Audit Committee of the Board of Directors “determined to commence a review in response to the assertions alleged” in the Short-Seller Report. The Company further advised that “the Company cannot rule out the possibility that the filing of the Company’s Annual Report on Form 10-K for fiscal year 2024 may be delayed.”
On January 21, 2025, the price of FTAI Aviation stock fell $28.59 per share, over 25%, to close at $83.79 per share.
WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
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