NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Allegiant Travel Company (NASDAQ: ALGT) securities between June 8, 2015 and April 13, 2018 (the “Class Period”). Investors have until June 25, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On April 15, 2018, CBS’s “60 Minutes” aired a segment that detailed a high number of what the program called “midair breakdowns” at the budget carrier. According to the report, “Public documents show an alarming number of aborted takeoffs, cabin-pressure loss, emergency descents and unscheduled landings.”
Following this news, shares of Allegiant fell $4.65 per share, or almost 3.1%, to close at $146.40 on April 16, 2018.
The complaint alleges that 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.
If you purchased or otherwise acquired Allegiant securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Allegiant Travel Company lawsuit, please go to http://www.bespc.com/allegiant. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.