Legal Reminder for American Airlines Investors Facing Claims
Important Deadline for American Airlines Investors
Kahn Swick & Foti, LLC (KSF), along with Charles C. Foti, Jr., the former Attorney General of Louisiana, highlights a crucial deadline for investors impacted by American Airlines Group Inc. They are urging those who incurred losses exceeding $100,000 during their investment in the company to act quickly. Investors have until September 16, 2024 to submit lead plaintiff applications in the securities class action lawsuits against American Airlines Group Inc. (NASDAQ: AAL). This opportunity particularly affects those who purchased the Company’s stock between July 20, 2023, and May 28, 2024.
What Should Investors Do?
If you have purchased securities from American Airlines and want to know your legal rights or how you might seek to recover financial losses, feel free to connect with KSF Managing Partner Lewis Kahn. He is available toll-free at 1-877-515-1850 for a consultation with no obligations involved. Investors can also reach out via email or learn more about the ongoing legal situation through the KSF website.
Understanding the Recent Legal Claims
The lawsuits surrounding American Airlines focus on serious allegations against the company and certain executives for allegedly not being forthcoming with essential information during the identified class period, which might have misled investors and violated federal securities regulations.
The situation escalated significantly following the sudden announcement on May 28, 2024, regarding the termination of Vasu S. Raja, the Executive Vice President and Chief Commercial Officer. Alongside this news, the company provided a downbeat outlook that included a significant cut to its short-term guidance. They reported a decline in operating margins and adjusted earnings per share by over 17%. The company attributed these disappointing figures to several factors, including a decrease in consumer bookings and an imbalance in domestic supply and demand.
Impact of the Recent Announcements
The aftermath of these disclosures was significant. Following the announcement, American Airlines’ stock plummeted more than 13.5%, falling from $13.44 per share on May 28, 2024, to a low of $11.62 per share on May 29, 2024. This drastic drop has certainly raised alarm among investors, prompting many to consider their legal recourse regarding compensation for their losses.
The Ongoing Cases Against American Airlines
The legal proceedings are structured under two key cases: Qawasmi v. American Airlines Group Inc., et al., and Thornburg v. American Airlines Group Inc., et al. The latter expanded the original class period, indicating a broader scope of inquiry into the company’s practices.
About Kahn Swick & Foti, LLC
As one of the leading boutique law firms specializing in securities litigation, Kahn Swick & Foti, LLC, has developed a strong reputation for advocating on behalf of clients aiming to recover losses due to corporate misconduct. Their diverse clientele includes public institutional investors, hedge funds, and retail investors. The firm operates across several states including New York, California, Delaware, Louisiana, and New Jersey.
Frequently Asked Questions
What is the deadline for filing claims against American Airlines?
The deadline for submitting lead plaintiff applications is September 16, 2024.
How can I contact Kahn Swick & Foti, LLC?
You can reach KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email.
What might investors claim in these lawsuits?
Investors may claim losses incurred due to undisclosed material information that misled them during the class period.
How did American Airlines' stock react to recent news?
The stock price fell over 13.5% following the announcement of leadership changes and revised financial guidance.
What services does KSN offer?
KSF provides legal representation for investors seeking compensation for losses related to corporate fraud or misrepresentation.
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