NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 27, 2015 to file lead plaintiff applications in a securities class action lawsuit against Volaris Aviation Holding Company (NYSE: VLRS) if they purchased the Company’s Ordinary Participation Certificates in the form of American Depositary Shares in and/or traceable to the Company’s initial public offering (“IPO”) on or about September 18, 2013. This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Volaris and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 27, 2015.
About the Lawsuit
Volaris and certain of its executives are charged with failing to disclose material information in connection with its IPO, violating federal securities laws.
The lawsuit alleges that the Registration Statement issued in connection with the IPO negligently contained financial statements that violated applicable accounting standards and failed to disclose certain material events known to defendants that caused the financial information in the Registration Statement not to be indicative of Volaris’s future operating results, including: (i) the financial effects from a change in the Company’s airline reservation system; and (ii) an expansion of competition in the Tijuana and Guadalajara, Mexico markets, which was having a material adverse effect on the Company’s revenues and profit margins.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.