NEW YORK, NY / ACCESSWIRE / February 10, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Southwest Airlines Co. ("Southwest" or the "Company") (NYSE:LUV). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Southwest and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 30, 2020, the Wall Street Journal published an article entitled "Southwest Flew Millions on Jets With Unconfirmed Maintenance Records, Government Report Says." Citing "a government report to be released in coming days," the article reported, among other things, that "Southwest pilots flew more than 17 million passengers on planes with unconfirmed maintenance records over roughly two years, and in 2019 smashed both wingtips of a jet on a runway while repeatedly trying to land amid gale-force winds" and that "FAA managers in the Dallas-area office that supervises Southwest routinely allowed the carrier ‘to fly aircraft with unresolved safety concerns.'"
On this news, Southwest's stock price fell $1.06 per share, or 1.86%, to close at $55.83 per share on January 30, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP