Thursday, August 15, 2024
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The Schall Law Firm, a national law firm specializing in shareholder rights, is informing investors of an ongoing class action lawsuit against American Airlines Group Inc. The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Securities and Exchange Commission Rule 10b-5.
Investors who purchased American Airlines securities between January 25, 2024 and May 28, 2024 (the “Litigation Period”) are encouraged to contact Schall Law Firm before September 16, 2024.
If you have suffered a loss as a shareholder, you are encouraged to participate. You may also contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, to discuss your rights free of charge.
The lawsuit alleges that the company made false and misleading statements to the market. Specifically, American Airlines repeatedly made positive statements about its newly implemented sales and distribution strategy, claiming it would reduce costs while increasing consumer demand. In reality, however, the strategy did not result in increased revenue, rendering the company’s public statements false and materially misleading throughout the Class Period. When the market learned the truth, investors suffered financial harm.
