Royal Caribbean, Execs Misled Investors: Suit

Law360, New York (August 2, 2011, 4:12 PM EDT) -- A Royal Caribbean Cruises Ltd. shareholder on Tuesday filed a class action in Florida against the cruise ship operator and three of its executives, alleging they misled investors about the company's financial prospects.

Named plaintiff Todd Roth also says company insiders — including CEO Richard Fain, Chief Financial Officer Brian J. Rice and Principal Accounting Officer Henry L. Pujol, named as co-defendants — took advantage of artificially high share prices boosted by rosy financial projections in order to reap illegal profits from selling their personal shares...
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