NEW YORK, June 18, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP reminds investors of the important June 25, 2018 lead plaintiff deadline in the class action lawsuit against Allegiant Travel Company (“Allegiant” or the “Company”) (NASDAQ: ALGT ). The lawsuit seeks to recover damages on behalf of those who purchased the securities of Allegiant between June 8, 2015 and April 13, 2018, both dates inclusive (the “Class Period”).
To join the Allegiant class action, and/or if you have information relating to this matter, please visit our ALLEGIANT SHAREHOLDER PAGE or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com .
According to the lawsuit, throughout the Class Period 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, Defendants’ public statements were materially false and misleading at all relevant times.
On April 13, 2018, CBS News aired a preview of a 60 Minutes segment revealing that Allegiant’s own pilots had serious concerns about the safety of Allegiant’s airplanes. On this news, Allegiant’s stock fell $14.20 per share or over 8% to close at $151.05 per share on April 13, 2018.
Then, on April 15, 2018, 60 Minutes aired the full segment on Allegiant, which, in addition to expanding on the litany of safety issues plaguing the Company, further revealed that “Allegiant’s maintenance department tries to talk pilots out of reporting problems with their aircraft to avoid delays and keep the planes moving.” According to Allegiant’s pilots union President, Captain Daniel Wells, this is illegal because “captains are required to report any mechanical deficiencies of an aircraft.” On this news, Allegiant’s stock fell $4.65 per share or over 3% to close at $146.40 per share on April 16, 2018.
If you wish to serve as lead plaintiff, you must move the Court no later than June 25, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information Daniel Sadeh Bernstein Liebhard LLP http://www.bernlieb.com (877) 779-1414 dsadeh@bernlieb.com
