BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of New Horizon Aircraft Ltd. (“New Horizon” or the “Company”) (NASDAQ: HOVR, HOVRW) investors concerning the Company’s possible violations of federal securities laws.
On April 22, 2024, New Horizon disclosed that previously issued financial statements for the year ended May 31, 2023 and the period ended August 31, 2023 should no longer be relied upon due to “the deferred development costs recorded by Robinson Aircraft Ltd. f/k/a Robinson Aircraft ULC” being “more appropriately classified as research and development costs.”
On this news New Horizon’s stock price fell $0.12, or 4.8%, to close at $2.29 per share on April 22, 2024, thereby injuring investors.
If you purchased New Horizon 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com