NEW ORLEANS, June 15, 2018 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 25, 2018 to file lead plaintiff applications in a securities class action lawsuit against Allegiant Travel Company (Nasdaq: ALGT ), if they purchased the Company’s securities between June 8, 2015 and April 13, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
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About the Lawsuit
Allegiant and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On April 13, 2018, CBS News announced an impending exposé on a multitude of problems involving the Company’s safety record. On this news, Allegiant’s shares plummeted $14.20 to close at $151.05. The report was subsequently aired on April 15, 2018, revealing a host of serious mechanical incidents, insufficient infrastructure and personnel to properly maintain the aircraft, and the Company’s involvement in discouraging the reporting of safety and maintenance problems.
On this news, the price of Allegiant’s shares again dropped $4.65 per share to close at $146.40.
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