Republic Airways Execs Escape Securities Fraud Suit

Law360 (March 30, 2018, 6:18 PM EDT) -- A New York federal judge on Thursday tossed a securities fraud claim from investors in Republic Airways, finding they had not shown how statements made by the regional airline's executives during a pilot shortage were misrepresentations or omissions of the truth that harmed their equity in the company.

Axar Master Fund Ltd. and Man GLG Select Opportunities Master LP's suit arose from Republic's 2016 restructuring after a pilot shortage threw Republic's partnership with bigger airlines into jeopardy, and the company filed for Chapter 11 bankruptcy. Amid the bankruptcy proceedings, Republic reached settlements with its partners that were opposed by investors, who unsuccessfully...

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