Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Ryanair Holdings plc Investors (RYAAY)
LOS ANGELES--(BUSINESS WIRE)--Nov 20, 2018--Glancy Prongay & Murray LLP (“GPM”), a global investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Ryanair Holdings plc (“Ryanair” or the “Company”) (NASDAQ: RYAAY ) American depositary receipts between May 30, 2017 and September 28, 2018, inclusive (the “Class Period”). Ryanair investors have until January 9, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On September 15, 2017, Ryanair announced that it would need to cancel up to 50 flights a day for the next six weeks due to pilot “schedul[ing]” issues, impacting some 315,000 customers. On this news, Ryanair’s American depositary receipt (“ADR”) price fell $7.09, or 6.21%, over three trading sessions, to close at $107.00 on September 18, 2017, thereby injuring investors.
The complaint filed in this class action alleges that the Company made false and misleading statements to the market. Ryanair’s labor relations continued to worsen throughout the summer of 2018, despite the Company claiming that it had improved the situation. Ryanair admitted on July 23, 2018, that profits had dipped 20% due to a 34% increase in staffing costs. The Company revealed on October 1, 2018, that strikes and flight cancellations affecting hundreds of thousands of customers caused cost increases to the point that the Company could not meet its profit projections. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.
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If you purchased shares of Ryanair during the Class Period you may move the Court no later than January 9, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005796/en/
CONTACT: Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 11/20/2018 06:10 PM/DISC: 11/20/2018 06:10 PM