Investor Alert: Canadian investors that purchased shares of Spire Global, Inc., confirmation of a massive multi-year restatement of financial statements

TORONTO, March 5, 2025 /CNW/ - Berger Montague (Canada) PC, a Toronto-based law firm that focuses on representing investors in cross-border shareholder disputes, has expanded its investigation of Spire Global, Inc. (NYSE: "SPIR": ISIN: US8485601087).

Spire Global, Inc. is an Ontario, Canada reporting issuer and subject to the provincial Securities Acts. It has nine offices across the U.S., Canada, UK, Luxembourg, Germany and Singapore. 

On August 14, 2024, SPIR published a news release announcing that it would not be about to release its Q2 2024 financial statements and associated management discussion and analysis ("MD&A"). Upon the release of SPIR's notice the market's reaction was harsh and immediate by sending the shares down from $10.16 to $6.75.

On February 11, 2025, SPIR published another news release announcing that it was expanding the restatement for the quarterly reports (full-year) for 2023 and 2022. Upon the release of SPIR's notice the market's reaction was harsh and immediate by sending the shares down from $19.85 to $10.12.

"Investors take on the risk of market forces; investors do not take on the risk of restatements as a result of negligence," says Andrew Morganti. "Our clients are not alleging fraud but, rather, accounting negligence just as a professional can be negligent for malpractice," he further added.

If you purchased shares of Spire Global, Inc. between May 11, 2022 and February 11, 2025, and would like to know more about our investigation or have information to share, please contact us at [email protected].  

Berger Montague (Canada) PC is one of the leading Canadian law firms that represent investors in shareholder class actions involving Canadian companies that list their securities on stock exchanges located in Canada, Germany, and the United States. You can learn more about Berger Montague (Canada) PC at www.bergermontague.ca.

SOURCE Berger Montague (Canada) PC

Questions may be directed to: Berger Montague (Canada) PC, 330 Bay Street, Suite 505, Toronto, ON M5H 2S8, Email: Andy Abramowitz [email protected] or Andrew Morganti at [email protected]