Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Kessler Topaz Meltzer & Check, LLP - Important Deadline Reminder for Allegiant Travel Company Investors

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/17/2018 | 05:00pm CEST

RADNOR, Pa., May 17, 2018 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP reminds Allegiant Travel Company (Nasdaq:ALGT) (“Allegiant”) investors that a class action lawsuit has been filed in the United States District Court for the Central District of California against Allegiant on behalf of purchasers of Allegiant publicly traded securities between June 8, 2015 and April 13, 2018, inclusive (the “Class Period”). 

Important Deadline Reminder:  Investors who purchased Allegiant securities during the Class Period may, no later than June 25, 2018, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this action please visit https://www.ktmc.com/new-cases/allegiant-travel-company#join

According to the complaint, Allegiant focuses on the provision of travel services and products to residents of under-served cities in the United States. The company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.

The Class Period commences on June 8, 2015, when The Enquirer reported that the company issued a statement in connection with an Allegiant plane that was forced to make an emergency landing in Florida after smoke was detected in the cabin shortly after takeoff. The company stated afterward that the safety of its passengers and crew were its “number one priority.”

According to the complaint, on April 13, 2018, CBS News announced it would air a 60 Minutes segment on Sunday, April 15, 2018, criticizing the company’s safety and maintenance record. Following this news, shares of Allegiant fell $14.20 per share or over 8.59% to close at $151.05 per share on April 13, 2018.

Then, on April 15, 2018, CBS News aired a 60 Minutes report revealing that: (i) Allegiant aircraft had a high number of serious mechanical incidents from mid-2015 through October 2017; (ii) Allegiant lacks the infrastructure and personnel to adequately maintain their aircraft; and (iii) Allegiant has discouraged pilots from reporting safety and maintenance issues. Following this news, shares of Allegiant fell $4.65 per share or over 3% to close at $146.40 per share on April 16, 2018.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Allegiant lacked adequate systems to ensure its aircraft were being properly maintained; (2) consequently, Allegiant was not operating responsibly and ethically, and providing safe working conditions for its employees; and (3) as a result, the defendants' public statements were materially false and misleading at all relevant times.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (888) 299–7706 or (610) 667–7706, or via e-mail at info@ktmc.com.

Allegiant investors may, no later than June 25, 2018, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member.  A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation.  In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action.  Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.  The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars).  The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.

CONTACT:

Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
info@ktmc.com

Primary Logo


© GlobeNewswire 2018
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
08:51aARBONIA : First semester results for 2018 financial year
PU
08:51aBarcelona president refuses to rule out Pogba move
AQ
08:51aLOOPUP : Trading Update
PU
08:51aTesla CEO confirms Saudi interest in buyout plan
AQ
08:50aTAKKT AG : Release according to Article 40, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution
EQ
08:49aLifestyle sees a slower second-half growth
AQ
08:48aCITIGROUP : Global Card Chief Jud Linville to Leave Bank -- WSJ
DJ
08:48aTENCENT : Beijing Bars Tencent Game -- WSJ
DJ
08:48aVF : to Spin Off Wrangler and Lee -- WSJ
DJ
08:48aBAYER : Verdict In Weed Killer Case Hits Bayer -- WSJ
DJ
Latest news "Companies"
Advertisement