Overview

A class action lawsuit has been filed against Spire Global, Inc. (“Spire Global” or the “Company”) (NYSE: SPIR) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Spire Global class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Spire Global securities between March 6, 2024, and August 14, 2024, both dates inclusive (the “Class Period”).  Investors have until October 21, 2024, to seek appointment as lead plaintiff of the Spire Global class action lawsuit.

Spire Global is a provider of satellite data, analytics, and services.  The Company operates a proprietary constellation of multi-purpose nanosatellites and provides subscription access to its data for a range of commercial applications such as shipping vessel monitoring, aviation guidance, and weather forecasting.  The Company’s offering also includes “Space Services,” which allow customers to deploy their own applications and sensors via satellite.

The Spire Global class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.  Specifically, Defendants failed to disclose to investors that: (1) there were embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts; (2) Spire Global lacked effective internal controls regarding revenue recognition for these contracts; (3) as a result, the Company overstated revenue for certain Space Services contracts; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.  As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.

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If you purchased or otherwise acquired Spire Global securities between March 6, 2024 and August 14, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Spire Global class action lawsuit is October 21, 2024.