Home » AIRLINE NEWS » American Airlines Faces Fierce Legal Challenge in Class Action by Schall Law Firm
Thursday, August 15, 2024
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The Schall Law Firm, a nationwide firm specializing in shareholder rights litigation, notifies investors of an ongoing class action lawsuit against American Airlines Group Inc. The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, established by the U.S. Securities and Exchange Commission.
Investors who purchased American Airlines securities between January 25, 2024, and May 28, 2024 (the “Class Period”), are encouraged to contact the Schall Law Firm before September 16, 2024.
If you are a shareholder who experienced a loss, you are encouraged to participate. You can also contact Brian Schall of the Schall Law Firm at 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, to discuss your rights at no cost.
The Complaint alleges that the Company made false and misleading statements to the market. Specifically, American Airlines made repeated positive assertions about its newly implemented sales and distribution strategy, claiming it would reduce expenses while increasing consumer demand. In reality, the strategy was failing to generate increased revenue, rendering the Company’s public statements false and materially misleading throughout the Class Period. When the market became aware of the truth, investors suffered financial damages.
