MESA AIR GROUP ALERT: Bragar Eagel & Squire, P.C. Announces That a Class Action Lawsuit Has Been Filed Against Mesa Air Group, Inc. and Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of investors that purchased Mesa Air Group, Inc. (NASDAQ: MESA) securities pursuant and/or traceable to Mesa Air Group’s August 2018 initial public offering (the “IPO” or “Offering”). Investors have until June 1, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

In August of 2018, Mesa conducted its 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.

Since the IPO, the Company’s stock price has significantly fallen below the IPO price, closing at $3.11 per share on March 30, 2020, or 74% less than its IPO price.

The complaint, filed on April 1, 2020, alleges that the registration statement for the IPO contained false and/or misleading statements and/or failed to disclose that: (1) Mesa’s operational performance was poor and below industry standards; (2) Mesa had a shortage of qualified mechanics and maintenance personnel; (3) Mesa had an inadequate number of spare aircraft and parts; (4) Mesa did not have a strong track record of reliable performance; (5) then-existing “risks” had already materialized; (6) 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/or misleading at all relevant times.

If you purchased Mesa Air Group securities pursuant and/or traceable to the IPO, 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 Melissa Fortunato or Marion Passmore by email at [e-mail], telephone at [phone], or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.