Robbins Arroyo LLP: Ryanair Holdings plc (RYAAY) Misled Shareholders According to Class Action
SAN DIEGO & SWORDS, Ireland--(BUSINESS WIRE)--Nov 13, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Ryanair Holdings plc (NasdaqGS: RYAAY) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between May 30, 2017 through September 28, 2018. Ryanair provides scheduled-passenger airline services in Ireland, the United Kingdom, and other European countries.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/ryanair-holdings-plc/
Ryanair Accused of Using Aggressive Anti-Employee Practices
According to the complaint, Ryanair used Irish employment contracts to avoid labor laws throughout Europe, opposed unions, and forced its employees to pay for workplace basics, including training, uniforms, and water. While the company’s employees were quitting en masse, Ryanair publicly stated that its employees were satisfied with their “industry leading” pay and benefits. As the extent of the labor unrest worsened, Ryanair’s employees threatened collective action, causing flight cancelations and forcing the company to pay millions in compensation costs or to re-route fliers. After disclosing a 20% decrease in quarterly profits in July 2018, Ryanair revealed in October that it could not meet its annual profit guidance due to massive costs related to the strikes and flight cancelations. On this news, Ryanair’s American Depositary Share (“ADS”) price fell to $80.93 per ADS on October 1, 2018, approximately 35% below the class period high.
Ryanair Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181113006157/en/
CONTACT: Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
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PUB: 11/13/2018 03:44 PM/DISC: 11/13/2018 03:44 PM