American Airlines Shareholders Take Action Now Claims Flier Highlights Critical Deadline For $100,000+ Losses

American Airlines Shareholders Take Action Now ClaimsFiler Highlights Critical Deadline For $100,000+ Losses
Saturday, July 27, 2024

ClaimsFiler, a complimentary service for shareholders, alerts investors of an approaching deadline. Those who acquired securities of American Airlines Group Inc. (NasdaqGS: AAL) between January 25, 2024, and May 28, 2024, have until September 16, 2024, to submit lead plaintiff applications for a securities class action lawsuit. This case is currently underway in the United States District Court for the Northern District of Texas.

American Airlines and several of its top executives are accused of withholding crucial information during the Class Period, thereby breaching federal securities laws.

On May 28, 2024, the company announced the immediate dismissal of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja. Concurrently, it revealed a sudden downward revision in its short-term financial projections, including a one percentage point drop in operating margin and a more than 17% decrease in adjusted earnings per share for the quarter. The company attributed these adjustments to weaker consumer bookings, a domestic supply and demand imbalance, and a slowdown in capacity growth.

Following this announcement, American Airlines’ share price plummeted by over 13.5%, falling from $13.44 per share on May 28, 2024, to $11.62 per share on May 29, 2024.

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