New Horizon Aircraft Ltd. (NASDAQ/NYSE/OTC: HOVR, HOVRW)

This investigation is for anyone who acquired securities in New Horizon Aircraft Ltd. (NASDAQ/NYSE/OTC: HOVR, HOVRW) prior to April 22, 2024.

The Law Offices of Howard G. Smith believes that the Company and certain of its executives violated federal law. Specifically, the Law Offices of Howard G. Smith believes that the Company misled investors regarding its financial condition. More specifically, the Law Offices of Howard G. Smith believes that the Company misled investors by telling investors that the Company had in place proper controls to assure proper accounting when the Company lacked such controls.

On April 22, 2024, New Horizon disclosed that previously issued financial statements for the year ended May 31, 2023 and the period ended August 31, 2023 should no longer be relied upon due to “the deferred development costs recorded by Robinson Aircraft Ltd. f/k/a Robinson Aircraft ULC” being “more appropriately classified as research and development costs.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in New Horizon Aircraft Ltd. (NASDAQ/NYSE/OTC: HOVR, HOVRW) prior to April 22, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.