Friday, August 23, 2024 Levi & Korsinsky, LLP has announced that it is representing investors in a class action lawsuit against American Airlines Group Inc. (“American Airlines” or the “Company”) (NASDAQ: AAL) for alleged securities law violations. The lawsuit is aimed at recovering losses suffered by investors due to alleged fraudulent activities by the Company.
The lawsuit covers a class period from January 25, 2024, to May 28, 2024, during which American Airlines is accused of making overly optimistic statements about its new sales and distribution strategy. The Company claimed this strategy would significantly reduce internal expenses while driving a substantial increase in demand for its airline services. However, it is alleged that these statements were misleading and that American Airlines concealed material adverse information, particularly that the new strategy was not generating the projected revenue.
Important Deadlines and Investor Rights Investors who experienced losses during the specified class period have until September 16, 2024, to request the Court to appoint them as lead plaintiffs in the case. It is important to note that investors do not need to serve as lead plaintiffs to participate in any potential recovery from the lawsuit. No Financial Obligation for Class Members If you are a member of the affected class, you may be entitled to compensation without incurring any out-of-pocket expenses.
Participation in the class action lawsuit comes with no.