Kaskela Law LLC: Shareholder Class Action Filed Against Allegiant Travel Company – ALGT

RADNOR, Pa., May 06, 2018 -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Allegiant Travel Company (NASDAQ:ALGT) (“Allegiant” or the “Company”) on behalf of purchasers of the Company’s securities between June 8, 2015 and April 13, 2018, inclusive (the “Class Period”).

Allegiant investors are encouraged to visit www.kaskelalaw.com/case/allegiant to receive additional information about this action and submit their information online.  Investors may also contact attorney D. Seamus Kaskela at (888) 715 – 1740, or via email at [email protected], to discuss their legal rights and options with respect to this action.

On April 13, 2018, CBS News announced it would air a 60 Minutes segment on Sunday, April 15, 2018, 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 per share.

Then, on April 15, 2018, CBS News aired a 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, or over 3%, to close on April 16, 2018 at $146.40 per share.

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.

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 class through Kaskela Law or other counsel, or may choose to do nothing and remain an absent class member.  In order to be appointed as a lead plaintiff a class member must meet certain legal requirements. 

Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors.  For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(888) 715 – 1740
[email protected]
www.kaskelalaw.com