NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of all purchasers of securities of American Airlines Group Inc. (NASDAQ: AAL) between January 25, 2024 and May 28, 2024. American Airlines describes itself as a “network air carrier, providing scheduled air transportation passenger and cargo services throughout the US and in various other countries around the world.”
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The Allegations: Rosen Law Firm is Investigating the Allegations that American Airlines Group Inc. (NASDAQ: AAL) Misled Investors Regarding its Business Operations.
According to the lawsuit, throughout the Class Period, defendants made overwhelmingly positive statements to investors regarding American’s new sales and distribution strategy to reduce internal expenses while simultaneously driving a significant demand increase for American’s airline services. The complaint alleges that these statements misrepresented the true state of American, and that American was simultaneously concealing material adverse facts including, notably, that American’s sales and distribution strategy was not driving the revenue projected. When the true details entered the market, the lawsuit claims that investors suffered damages.
What Now: You may be eligible to participate in the class action against American Airlines Group Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 16, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.
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