An investigation on behalf of investors of CPI Aerostructures, Inc. (NYSE: CVU) shares over potential securities laws violations by CPI Aerostructures and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of CPI Aerostructures, Inc. (NYSE: CVU) concerning whether a series of statements by CPI Aerostructures, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Edgewood, NY based CPI Aerostructures, Inc. engages in the contract production of structural aircraft parts for fixed wing aircraft and helicopters in the commercial and defense markets. CPI Aerostructures, Inc. reported that its annual Total Revenue declined from over $81.32 billion in 2016 to $81.28 billion in 2017 and that its Net Loss of over $3.6 billion in 2016 turned into a Net Income of over $5.76 billion in 2017.

On February 8, 2019, CPI Aerostructures disclosed that its financial statements for the three and nine months ended September 30, 2018 reported in its Form 10-Q could no longer be relied upon due to an error . . . in the Companys billing process. According to CPI Aerostructures, the alleged error inflated its revenue and income before provision for income taxes, net income, and earnings per share for each such period.

Shares of CPI Aerostructures, Inc. (NYSE: CVU) closed on March 6, 2019 at $7.20 per share.