These 10 Firms Took A Hit on Friday

5. FTAI Aviation Ltd. (NASDAQ:FTAI)

FTAI Aviation Ltd. (FTAI) fell by 6.35 percent on Friday to end at $112.38 apiece as news that it was being investigated for allegedly manipulating its financials dragged investor sentiment.

The investigation stemmed from a report by Muddy Waters Research, alleging that FTAI materially manipulates its financials by exaggerating the size of its aftermarket aerospace business, misleading investors by presenting whole engine sales as individual module sales, inflating Aerospace Products’ EBITDA margins by means of over-depreciation in the leasing segment, and engaging in channel stuffing.

Following the report, shareholder law firm Hagens Berman initiated an investigation into FTAI Aviation’s financial reporting practices.

“We are investigating whether FTAI has misled investors about its reported revenue growth,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

FTAI Aviation Ltd. (FTAI) is a company engaged in aftermarket power and maintenance for the most widely used commercial jet engines.