NEW ORLEANS, August 21, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until 16 September 2024 to file lead plaintiff motions in a class action lawsuit against American Airlines Group Inc. (NasdaqGS: AAL) if they purchased the Company’s securities between January 25, 2024 and May 28, 2024, inclusive (the “Class Period”). This action is pending in the U.S. District Court for the Northern District of Texas.
Get help
American Airlines investors should visit us at https://claimsfiler.com/cases/nasdaq-aal-1/ or call toll free (844) 367-9658. The attorneys at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the lawsuit
American Airlines and certain of its executives are accused of failing to disclose material information during the Class Period, thereby violating federal securities laws.
On May 28, 2024, the company announced the termination of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, without notice. This coincided with an abrupt reduction in its near-term guidance, including a full percentage point cut in operating margin and more than 17% cut in adjusted earnings per share for the quarter, which the company attributed to declining consumer bookings, a domestic supply-demand imbalance and lower capacity growth.
On this news, American Airlines’ stock price fell over 13.5%, from $13.44 per share on May 28, 2024, to $11.62 per share on May 29, 2024.
The case is Qawasmi v. American Airlines Group Inc..et al., 24-cv-0673.
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ClaimsFiler has a single mission: to serve as a resource to help retail investors obtain their share of billions of dollars from class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various class action lawsuits so they can file their own claims in a timely manner; (2) upload their portfolio transaction data to be notified of relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the law firm of Kahn Swick & Foti, LLC to receive free case evaluations.
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