Shareholder rights law firm Robbins LLP announces that a purchaser of Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between February 20, 2020 and March 12, 2020. Norwegian operates as a cruise company internationally.
If you suffered a loss as a result of Norwegian's misconduct, click here.
Norwegian Cruise Line Holdings Ltd. (NCLH) Accused of Misleading Shareholders
According to the complaint, on February 20, 2020, Norwegian touted that "despite the current known impact from the COVID-19 coronavirus outbreak…the Company's booked position remained ahead of prior year and at higher prices" and assured its confidence in a strong financial performance for the Company long-term. Later that month, Norwegian stated in its 2019 annual report that the Company "place[s] the utmost importance on the safety of [its] guests and crew" and it was "proactively protecting the health of travelers." Then, on March 11, 2020, the Miami New Times reported on leaked emails from Norwegian's staff that revealed Norwegian had directed its sales staff to lie to customers regarding COVID-19 "to protect the company's bookings." On March 12, 2020, The Washington Post detailed some of the lies, which included statements like "the coronavirus will not affect you" and "fact: coronavirus in humans is an overhyped pandemic scare." On this news, shares of Norwegian fell almost 53% to close at $9.65.
If you purchased Norwegian Cruise Line Holdings Ltd. (NCLH) securities between February 20, 2020 and March 12, 2020, you have until May 11, 2020, to ask the court to be appointed lead plaintiff for the class.
Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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