A lawsuit was filed on behalf of investors in Ryanair Holdings plc (NASDAQ: RYAAY) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 11/30/2018 -- An investor, who purchased shares of Ryanair Holdings plc (NASDAQ: RYAAY), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Ryanair Holdings plc.
Investors who purchased shares of Ryanair Holdings plc (NASDAQ: RYAAY) have certain options and for certain investors are short and strict deadlines running. Deadline: January 7, 2019. NASDAQ: RYAAY investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between May 30, 2017 and September 28, 2018, the defendants misrepresented and/or failed to disclose, among other things, that Ryanair's labor relations had deteriorated in 2017 and 2018. As a result, the Company was experiencing increased employee turnover and was threatened with massive strikes and other disruptions across its operations, and its historical operating model and profit growth were not sustainable.
On September 14, 2017, it was reported that Ryanair Holdings plc had lost a key ruling in the European Court of Justice that cast doubt on the legality of the Company's use of Irish employment contracts to evade local labor laws throughout Europe. The next day, Ryanair Holdings plc announced that it would need to cancel up to 50 flights a day for the next six weeks due to pilot "schedul[ing]" issues. Reports began to circulate that the disruption was not due to scheduling issues, as the Company had claimed, but rather to widespread defections by disgruntled employees. Then, according to the complaint, in December 2017, Ryanair Holdings plc reversed its earlier position and conceded its need to recognize unions, but continued to downplay the extent of the labor unrest and conceal the expected impact to the Company's operations and financial results. However, in the summer of 2018, discontent among Ryanair's workers continued to spill out into the open, belying defendants' public claims regarding improved labor relations and forcing workers into threatening collective action. The resulting flight cancellations damaged the Company's brand and forced it to pay millions in compensation costs or to re-route fliers.
Those who purchased shares of Ryanair Holdings plc (NASDAQ: RYAAY) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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