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FTAI Aviation Ltd. (NASDAQ: FTAI) Faces Intensified Scrutiny Following Second Short-Seller Report Amid Investor Class Action – Hagens Berman

By: via GlobeNewswire

SAN FRANCISCO, Jan. 31, 2025 (GLOBE NEWSWIRE) -- FTAI Aviation Ltd. (NASDAQ: FTAI) is facing mounting pressure after a second activist short-seller, Snowcap, released a critical report on January 29, 2025, further amplifying concerns initially raised by Muddy Waters Research earlier in January and leading to an investor class action alleging securities fraud.

Hagens Berman urges FTAI Aviation investors to submit your losses now.

Class Period: July 23, 2024 – Jan. 15, 2025
Lead Plaintiff Deadline: Mar. 18, 2025
Visit: www.hbsslaw.com/investor-fraud/ftai
Contact the Firm Now: FTAI@hbsslaw.com
                                          844-916-0895

Snowcap’s Allegations Reinforce and Expand on Previous Concerns

Snowcap stated that their own three-month investigation corroborated many of the conclusions presented in the Muddy Waters report. Their report goes further, alleging that FTAI's Aerospace segment is "in substance an elaborate fabrication." Snowcap claims to have spoken with former FTAI executives, industry experts, and competitors who expressed confusion regarding FTAI's accounting and disclosures related to the Aerospace segment.

Key allegations from the Snowcap report include:

  • Illusory Business Model: Snowcap alleges that FTAI's supposed Aerospace business model is illusory. They claim a former FTAI executive told them the company is "not really" performing third-party module swaps at its key facility, "no matter what the reporting says."
  • Inflated Profits: Snowcap estimates that as much as 50% of the Aerospace segment's profits are "just repackaged, one-off Covid gains" from FTAI's leasing business.
  • Overvalued Inventories: Snowcap asserts that FTAI's inventories appear "egregiously overvalued," suggesting the company may have inflated its Aerospace profits by marking up the value of older engines received as payment.
  • Misleading EBITDA: Snowcap argues that FTAI trades at a high multiple (87x book value) because investors value it at a premium MRO multiple of its reported EBITDA. Snowcap believes this EBITDA is "at best meaningless, and at worst, materially inflated," and that FTAI generates significantly less underlying cash flow than investors have been led to believe.

Combined Impact of Short-Seller Reports

The combined effect of the Muddy Waters and Snowcap reports has significantly increased pressure on FTAI’s share price, which is down over 18% over the past month. Both reports raise serious questions about the company’s accounting practices, particularly concerning its Aerospace segment, and its reported financial performance. The allegations of inflated profits, overvalued inventories, and a potentially misleading EBITDA calculation could have significant implications for FTAI’s valuation and potential liability for alleged violations of the securities laws.

Pending Securities Class Action  

This new development occurs while FTAI is already facing a potential delay in filing its annual report for 2024 due to the initial Muddy Waters allegations and the ongoing internal review. In addition, there is a pending class action alleging securities fraud against FTAI and certain executives. 

The lawsuit, which echoes Muddy Water’s claims, was filed in the Southern District of New York and brought on behalf of investors who purchased FTAI securities between July 23, 2024 – Jan. 15, 2025, seeks to recover losses for investors who suffered financial harm due to FTAI's alleged fraudulent conduct.

Shareholder rights firm Hagens Berman is currently investigating investors’ claims. “The new allegations from Snowcap, combined with the existing concerns raised by Muddy Waters and the ongoing securities litigation, paint a deeply troubling picture of FTAI’s business practices and financial reporting,” said Reed Kathrein, the Hagens Berman partner leading the investigation. “We are expanding our investigation to include these latest claims in the interests of investors who may have been harmed by the company’s and its executives’ alleged misconduct.”

If you invested in FTAI and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the FTAI investigation, read more »

Whistleblowers: Persons with non-public information regarding FTAI should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email FTAI@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

Contact:
Reed Kathrein, 844-916-0895


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