FTAI Aviation(US:FTAI) Prnewswireยท2025-01-23 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of FTAI Aviation Ltd. regarding a class action lawsuit due to alleged misleading financial statements and practices during a specified class period [1]. Allegations - The complaint alleges that FTAI reported one-time engine sales as maintenance repair & overhaul revenue, despite only performing limited repair and maintenance work on the sold engine assets [1]. - FTAI is accused of presenting whole engine sales as individual module sales, which has led to an overstatement of sales and demand [1]. - The company reportedly depreciates engines that are not on lease, misleadingly lowering the reported cost of goods sold and inflating EBITDA [1]. - As a result of these practices, the positive statements made by the defendants about the company's business, operations, and prospects were materially misleading and lacked a reasonable basis [1]. Class Action Details - The class period for the lawsuit is from July 23, 2024, to January 15, 2025, with a deadline for shareholders to register as lead plaintiffs by March 18, 2025 [2]. - Shareholders who register will be enrolled in a portfolio monitoring software to receive updates throughout the lifecycle of the case [2]. Firm's Mission - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit, fraud, and illegal business practices [3]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors who incurred losses from misleading statements or omissions that led to artificial inflation of stock prices [3].