LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Southwest Airlines Co. (“Southwest” or “the Company”) (NYSE: LUV) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Southwest is the subject of an article in the Wall Street Journal published on January 30, 2020, titled “Southwest Flew Millions on Jets With Unconfirmed Maintenance Records, Government Report Says.” According to the Journal, “Southwest pilots flew more than 17 million passengers on planes with unconfirmed maintenance records over roughly two years, and in 2019 smashed both wingtips of a jet on a runway while repeatedly trying to land amid gale-force winds.” The article also states that “FAA managers in the Dallas-area office that supervises Southwest routinely allowed the carrier ‘to fly aircraft with unresolved safety concerns.’” Based on this news, shares of Southwest fell by nearly 2% the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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