Allegiant Air Can't Ground Safety Lapse Stock-Drop Suit
Law360 (September 9, 2019, 7:34 PM EDT) -- Allegiant Air must face a trimmed securities class action alleging the low-cost airline hid its poor safety record and lied to investors about maintenance lapses and dangerous incidents, a Nevada federal judge ruled Monday, finding that at least some of the company's disclosures might've misled investors.
U.S. District Judge Andrew P. Gordon agreed to slash some of the suit's claims that Allegiant Travel Co. and top executives downplayed the airline's shoddy aircraft maintenance record — which was revealed in a 2018 CBS News "60 Minutes" report and resulted in a sharp drop in Allegiant's stock price — but largely kept alive...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!