BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL) investors concerning the Company and its officers’ possible violations of federal securities laws.
On April 16, 2020, when the Company still had at sea two of its cruise ships, Bloomberg Businessweek published an article titled “Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going.” The article stated that Carnival may have failed to effectively protect its passengers from COVID-19 on a series of cruise voyages, and indeed continued to operate new cruise departures despite its knowledge that the threat posed by COVID-19 had materialized on its ships and was likely to proliferate further.
On this news, the Company’s share price fell $0.53 per share, or over 4%, to close at $11.85 per share on April 16, 2020.
Then, on May 1, 2020, The Wall Street Journal published an article titled “Cruise Ships Set Sail Knowing the Deadly Risk to Passengers and Crew.” The article detailed how cruise ships, particularly Carnival ships, facilitated the spread of COVID-19, and provided new facts on early warning signs Carnival and its affiliated cruise lines possessed and the Company’s disclosure failures. Further, the article also noted that The House Committee on Transportation and Infrastructure had requested documents from Carnival related “to Covid-19 or other infectious disease outbreaks aboard cruise ships” and that testimony from a different investigation in Australia exposed that Carnival and its affiliated cruise lines may have misled shore officials by concealing those exhibiting COVID-19 symptoms before docking.
On this news, the Company’s share price fell $1.97 per share, or over 12%, to close at $13.93 per share, thereby injuring investors.
If you purchased Carnival 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 (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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