Kaskela Law LLC notifies Allegiant Travel Company (NASDAQ: ALGT)
(“Allegiant” or the “Company”) shareholders that a class action lawsuit
has been filed on behalf of purchasers of the Company’s securities between
June 8, 2015 and April 13, 2018, inclusive (the “Class Period”).
On April 13, 2018, CBS News announced it would air a 60 Minutes segment
criticizing the Company’s safety and maintenance record. Following this
news, shares of the Company’s stock fell $14.20 per share, or 8.6%, to
close on April 13, 2018 at $151.05.
Then, on April 15, 2018, CBS News aired the 60 Minutes report revealing
that: (i) Allegiant aircraft had a high number of serious mechanical
incidents from mid-2015 through October 2017; (ii) Allegiant lacks the
infrastructure and personnel to adequately maintain their aircraft; and
(iii) Allegiant has discouraged pilots from reporting safety and
maintenance issues. Following this additional news, shares of the
Company’s stock fell an additional $4.65 per share, to close on April
16, 2018 at $146.40.
The shareholder class action complaint alleges that Allegiant and
certain of its senior executive officers made false and misleading
statements and/or failed to disclose to investors that: (i) Allegiant
lacked adequate systems to ensure its aircraft were being properly
maintained; and (ii) Allegiant was not operating responsibly and
ethically and providing safe working conditions for its employees. The
complaint further alleges that, as a result of the foregoing, investors
purchased Allegiant’s common stock at artificially inflated prices
during the Class Period and sustained significant investment losses when
the truth was revealed.
FINAL DEADLINE ALERT: Investors who purchased Allegiant
securities during the Class Period may, no
later than June 25, 2018, seek to be appointed as a lead
plaintiff representative of the investor class. Allegiant investors are
encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at
(484) 258–1585 or (888) 715–1740 to discuss their important legal rights
and options. Investors may also visit www.kaskelalaw.com/case/allegiant
for additional information about this action or to submit their
information online. For additional information about Kaskela Law LLC
please visit www.kaskelalaw.com.
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