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FLY Leasing faces lawsuit over allegedly misleading statements

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FLY Leasing faces lawsuit over allegedly misleading statements

Goldberg Law PC disclosed March 25 that it has filed a class-actionlawsuit in a federal court in New York against FLY Leasing Ltd.

The complaint alleges that the company made misleading statementsor failed to disclose that, during fiscal years 2014 and 2015, it had engaged inimproper accounting with respect to intangible assets and liabilities for aircraftacquired with in-place leases. As a result of those actions, the company's publicstatements were materially false and misleading at all relevant times, accordingto the complaint.

FLY Leasing believes the plaintiff's claims are without meritand intends to contest the litigation, according to an emailed statement from thecompany.