FTAI Aviation(US:FTAI) Prnewswireยท2025-02-03 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of FTAI Aviation Ltd. regarding a class action lawsuit alleging that the company made materially false and misleading statements during the class period from July 23, 2024, to January 15, 2025 [1] Allegations - The complaint alleges that FTAI reported one-time engine sales as maintenance repair and 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 overstated sales and demand [1] - The company allegedly 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 defendants about the company's business, operations, and prospects were materially misleading and lacked a reasonable basis [1] Next Steps for Shareholders - Shareholders who purchased shares of FTAI during the specified timeframe are encouraged to register for the class action by March 18, 2025, to potentially be appointed as lead plaintiff [2] - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive status 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 engage in good corporate citizenship [3]