BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased Ryanair Holdings plc (“Ryanair” or the “Company”) (NASDAQ: RYAAY) American depositary receipts between May 30, 2017 and September 28, 2018, inclusive (the “Class Period”). Ryanair investors have until January 7, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Ryanair investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On September 15, 2017, Ryanair announced that it would need to cancel up to 50 flights a day for the next six weeks due to pilot "schedul[ing]" issues, impacting some 315,000 customers. On this news, Ryanair's American depositary receipt ("ADR") price fell $7.09, or 6.21%, over three trading sessions, to close at $107.00 on September 18, 2017, thereby injuring investors.
The complaint filed in this class action alleges that the Company made false and misleading statements to the market. Ryanair’s labor relations continued to worsen throughout the summer of 2018, despite the Company claiming that it had improved the situation. Ryanair admitted on July 23, 2018, that profits had dipped 20% due to a 34% increase in staffing costs. The Company revealed on October 1, 2018, that strikes and flight cancellations affecting hundreds of thousands of customers caused cost increases to the point that the Company could not meet its profit projections. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.
If you purchased American depositary receipts of Ryanair, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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