INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf Mesa Air Group, Inc. (MESA) Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Mesa Air Group, Inc. ("Mesa" or the Company") (NASDAQ: MESA) securities pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s August 2018 initial public offering (the “IPO” or “Offering”). Mesa investors have until June 1, 2020 to file a lead plaintiff motion.

Investors suffering losses on their Mesa 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 [e-mail].

On August 9, 2018, Mesa conducted its initial public offering (“IPO”) in which it sold approximately 11 million shares of common stock for $12.00 per share.

On May 10, 2019, Mesa’s Chief Executive Officer ("CEO") revealed that over the last 18 months, well before the IPO, Mesa had been “hamstrung by the fact that we had expanded a lot... maintenance became more difficult in terms of qualified maintenance people.”

Then on August 9, 2019, Mesa’s CEO stated that Mesa “did not meet the performance criteria” under its contract with American Airlines, Inc.

The Company’s shares have consistently traded below the IPO price, closing as low as $2.70 per share on March 19, 2020.

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that Mesa’s operational performance was poor and below industry standards; (2) that Mesa had a shortage of qualified mechanics and maintenance personnel; (3) that Mesa had an inadequate number of spare aircraft and parts; (4) that Mesa did not have a strong track record of reliable performance; (5) that then-existing “risks” had already materialized; (6) that Mesa knew of undisclosed adverse trends and uncertainties at the time of the IPO; and (7) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

If you purchased Mesa securities, 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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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