NEW ORLEANS, Sept. 11, 2024 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until September 16, 2024 to file lead plaintiff applications in securities class action lawsuits against American Airlines Group Inc. (NasdaqGS: AAL), if they purchased the Company’s securities between July 20, 2023 and May 28, 2024, inclusive (the “Class Period”). These actions are pending in the United States District Court for the Northern District of Texas.
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American Airlines investors should visit us at https://claimsfiler.com/cases/nasdaq-aal-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuits
American Airlines and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 28, 2024, the Company disclosed the prompt termination of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, along with an abrupt reduction in its short-term guidance including cuts to operating margin by a full percentage point and adjusted earnings per share for the quarter by more than 17%, which the Company attributed to a softness in consumer bookings, a domestic supply and demand imbalance, and a reduction in capacity growth.
On this news, the price of American Airlines’ shares 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. A subsequent case, Thornburg v. American Airlines Group Inc., et al., 24-cv-823, expanded the class period.
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ClaimsFiler has a single mission: to serve as the information source to help retail investors recover their share of billions of dollars from securities class action settlements. At ClaimsFiler.com, investors can: (1) register for free to gain access to information and settlement websites for various securities class action cases so they can timely submit their own claims; (2) upload their portfolio transactional data to be notified about relevant securities cases in which they may have a financial interest; and (3) submit inquiries to the Kahn Swick & Foti, LLC law firm for free case evaluations.
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