Royal Caribbean Dodges Securities Fraud Class Action

Law360, New York (April 22, 2013, 4:35 PM EDT) -- A Florida federal judge on Thursday tossed a consolidated securities class action alleging Royal Caribbean Cruises Ltd. executives schemed to artificially inflate the company’s stock price by concealing lagging bookings, particularly for its European and Mediterranean cruises, saying the plaintiffs failed to plead scienter.

U.S. District Judge Kathleen M. Williams granted Royal Caribbean’s motion to dismiss the suit with prejudice, saying the plaintiffs couldn’t prove that the cruise company knowingly and fraudulently schemed to mislead investors about bookings and earnings potential from the European and Mediterranean...
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