SAN DIEGO & LAS VEGAS--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Allegiant Travel Company (NasdaqGS: ALGT) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between June 8, 2015 and April 13, 2018. Allegiant, a leisure travel company, provides travel services and products to residents of under-served cities in the United States.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/allegiant-travel-company
Allegiant Accused of Failing to Ensure Its Aircraft Were Properly Maintained
According to the complaint, Allegiant emphasized in its public statements that "the safety of our passengers and crew is always our number one priority" and represented that its planes were maintained in accordance with Federal Aviation Administration regulations. Despite its many assurances, Allegiant was acting irresponsibly and unethically while failing to provide safe working conditions for its employees. On April 15, 2018, CBS News aired a shocking 60 Minutes report revealing that Allegiant's aircrafts had a high number of serious mechanical incidents from mid-2015 through October 2017. Further, the report claimed that Allegiant lacked the infrastructure and personnel to adequately maintain its aircrafts and that the company discouraged pilots from reporting safety and maintenance issues. After news of Allegiant's troubles became known to the public, Allegiant's stock plummeted over 11% to close at $146.40 per share on April 16, 2018.
Allegiant Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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