Spirit AeroSystems (SPR) Case
Spirit AeroSystems ($SPR) has agreed to settle $29.2M with investors to resolve claims that it failed to maintain effective production quality controls and misled investors about defects in parts supplied for Boeing’s 737 MAX aircraft.
Outline:
Spirit AeroSystems manufactured fuselage sections used in Boeing’s 737 MAX aircraft. Investors later alleged the company failed to disclose problems with improperly installed fittings on certain aircraft components. In April 2023, Boeing halted deliveries of some 737 MAX aircraft after identifying a supplier quality issue. After the stock dropped and investors filed suit, Spirit AeroSystems later agreed to a $29.2 million settlement.
Timeline:
April 13, 2023: Boeing announced a halt to certain 737 MAX deliveries due to a supplier quality issue affecting multiple aircraft.
April 13, 2023: Reports identified Spirit AeroSystems as the supplier and described improperly installed fittings on the aft fuselage.
April 13, 2023: $SPR dropped about 20.7% following the disclosures.
May 3, 2023: Investors filed a securities class action lawsuit.
August 8, 2025: The parties filed a stipulation of settlement for $29.2 million.
Background:
Spirit AeroSystems is a major aerospace supplier that manufactures fuselage components for Boeing aircraft, including the 737 MAX. The company’s production processes and quality controls play a key role in ensuring aircraft components meet required standards.
In April 2023, Boeing disclosed a quality issue affecting certain undelivered 737 MAX aircraft. Reports later indicated that improperly installed fittings on fuselage sections supplied by Spirit AeroSystems were involved in the issue.
The problem required inspections and repairs of affected fuselage components and delayed deliveries of some aircraft. The issue was also reported to potentially trace back to production practices dating to 2019.
Investors later alleged that Spirit AeroSystems failed to maintain effective quality controls and did not adequately disclose the risk of defects affecting its aircraft components. Following the disclosures, $SPR declined sharply and shareholders filed a securities class action lawsuit.
What Can Investors Expect Now?
Spirit AeroSystems agreed to a $29.2 million settlement with $SPR investors to resolve claims tied to statements about production quality controls and defects affecting parts supplied for Boeing’s 737 MAX aircraft.
If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.
Frequently Asked Questions
All persons and entities who purchased or otherwise acquired publicly traded Spirit Airlines, Inc. Class A common stock between April 8, 2020, and September 7, 2023, inclusive, and were damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
The final payout amount depends on your specific trades and the number of investors participating in the settlement.
If 100% of investors file their claims - the average payout will be $0.34 per share. Although typically only 25% of investors file claims, in this case, the average recovery will be $1.36 per share.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.