Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) concerning whether a series of statements by Aerojet Rocketdyne Holdings Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 9, 2019, a report published by Spruce Point Management ("Spruce Point") claimed that Aerojet Rocketdyne "is facing fundamental pressures, masked by complicated and aggressive accounting, which gives investors a potentially misleading impression of stability and growth." Furthermore, Spruce Point asserted that "~$900M of liabilities associated with the business [makes] the Company 5x more levered than it appears" and that "analysts blindly pencil in 4% revenue growth in the next two years, despite hundreds of millions of dollars in revenue programs that are disappearing."
Following this news, NYSE: AJRD stock price fell sharply during intraday trading on April 9, 2019.
Based in El Segundo, California, and founded in 1915 Aerojet Rocketdyne Holdings Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States.
If you purchased shares of Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) on or before April 9, 2019, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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