Company: Aviation Parts Maker CEO’s Statements Were Forward-Looking

Mealey's (February 17, 2022, 2:18 PM EST) -- SAN FRANCISCO — A federal district court’s grant of summary judgment in a shareholder class action against an aviation parts manufacturing conglomerate and certain of its senior executives was proper because the court correctly determined that statements made by the company’s CEO regarding the company’s progress toward its Fiscal Year 2016 (FY16) financial target were forward-looking and protected by the safe harbor provision of the Private Securities Litigation Reform Act (PSLRA), the company and its executives argue in a Feb. 15 appellee brief filed in the Ninth Circuit U.S. Court of Appeals....