Law Firm Frank R. Cruz Announces Investigation into Spire Global, Inc. (SPIR) on Behalf of Investors

On August 14, 2024, Spire announced that it would not file its second quarter 2024 report on time because it is “in the process of reviewing its accounting practices and procedures related to revenue recognition with respect to certain contracts in its Space as a Service business.” The company further disclosed that “the type of contracts the company has identified for revaluation have resulted in recognized revenue of approximately $10 to $15 million on an annualized basis.”

This news caused Spire’s share price to drop as much as 38% during intraday trading on August 15, 2024, hurting investors.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Spire securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email at [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email, please include your mailing address, telephone number and the number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under applicable law and ethical rules.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20240815542334/en/

The Spire Global Registered (A) Stock had fallen by 1.5% at the time of the news release. -33.56 % to 6.75US dollar on the NYSE stock exchange (August 15, 2024, 11:05 p.m.).