Robbins Arroyo LLP: Allegiant Travel Company (ALGT) Misled Shareholders According to a Recently Filed Class Action
SAN DIEGO & LAS VEGAS--(BUSINESS WIRE)--Jul 24, 2018--Shareholder rights law firm Robbins Arroyo LLP announces the filing of a shareholder derivative complaint alleging breaches of fiduciary duty against the company’s officers and directors on behalf of Allegiant Travel Company (NasdaqGS: ALGT). Allegiant is a low-cost passenger airline.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/allegiant-travel-company-july-2018/
Allegiant Accused of Failing to Ensure Its Aircraft Were Properly Maintained
According to the complaint, since at least 2015, Allegiant has had the highest rate of emergency landings of any airline in the United States. On November 2, 2016, the Tampa Bay Times published an investigative report revealing the systematic nature of Allegiant’s safety and maintenance problems and noting that approximately half of Allegiant’s aircraft broke down in flight at least once during 2015. Defendants responded by stating they were improving the company’s maintenance and safety processes and that the problems were behind them. The Tampa Bay Times continued publishing reports of safety issues at the airlines throughout 2016 and 2017. Then, in April 2018, CBS News aired a report detailing the continued safety and maintenance problems at Allegiant. The report also claimed that Allegiant lacked the infrastructure and personnel to adequately maintain its aircraft and that the company discouraged pilots from reporting safety and maintenance issues. These safety issues have cost the company fees for airport emergency services, vouchers and refunds for passengers on aborted or emergency landed flights, fines from the company’s violations of federal and state laws, incentive compensation paid to executives who breached their fiduciary duties, and costs for defending and potentially settling the pending securities class action.
Allegiant Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, 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.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180724006020/en/
CONTACT: Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEVADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2018.
PUB: 07/24/2018 06:55 PM/DISC: 07/24/2018 06:55 PM