Settlement Reached for Spirit AeroSystems Shareholders in Class Action Lawsuit

Proposed Settlement for Spirit AeroSystems Class Action Lawsuit

Glancy Prongay & Murray LLP and Holzer & Holzer, LLC have announced a proposed settlement for those who purchased Class A common stock of Spirit AeroSystems Holdings, Inc. The settlement aims to resolve claims arising from the action filed in the Southern District of New York, which addresses issues affecting shareholders during the period from April 8, 2020, to September 7, 2023.

Overview of the Lawsuit

The lawsuit is led by Hang Li, who represents all shareholders similarly situated. It is officially recognized as a class action, meaning that all eligible purchasers of Spirit AeroSystems common stock during the specified dates are affected. The action against Spirit AeroSystems, Tom Gentile III, and Mark J. Suchinski discusses alleged mismanagement and financial irregularities that may have affected stock value.

Financial Impact of the Settlement

If approved, the settlement will amount to a substantial $29.2 million in cash designed to compensate shareholders. This proposed settlement is a significant step for the company to resolve ongoing disputes without prolonging litigation, which can be costly and time-consuming for both parties involved.

Settlement Hearing Details

A court hearing to finalize the details of the proposed settlement is scheduled for January 16, 2026, at 10:00 AM. The hearing will assess whether the settlement is fair, reasonable, and adequate for all parties concerned. It will also evaluate potential allocation plans for the settlement funds and review the request for reimbursement of legal expenses sought by the lead counsel. The session is to be held at the Thurgood Marshall United States Courthouse in New York, with Judge Paul A. Engelmayer presiding over the proceedings.

Claim Submission and Your Rights

If you were a member of the Settlement Class and wish to benefit from the proposed settlement, it is imperative that you submit a Claim Form by January 30, 2026. Failure to do so could result in not receiving any compensation, even if you are entitled to it. More importantly, you will still be bound by the court's decisions regarding the case.

Shareholders wishing to exclude themselves from the Settlement Class must submit their request by December 19, 2025, to avoid being bound by any judgments in the matter. Additionally, any objections to the terms of the settlement or allocation plans must be received by December 26, 2025, to be considered by the court.

Contact Information

For further inquiries, interested parties can visit the dedicated website maintained by the Claims Administrator or contact Glancy Prongay & Murray LLP directly. The website provides access to the Notice and Claim Form necessary to navigate the settlement process efficiently.

In conclusion, this proposed settlement represents an important milestone in addressing the grievances of Spirit AeroSystems shareholders, aiming for a resolution that seeks to restore confidence among investors and stabilize the company’s standing in the market. As developments unfold, all affected shareholders are encouraged to stay informed and act accordingly to ensure their rights and interests are protected.