The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Mesa Air Group Incorporated (NASDAQ: MESA) who purchased shares pursuant and/or traceable to the documents issued in connection with Mesa Air Group’s August 2018 initial public offering. The action, which was filed in the United States District Court for the District of Arizona, alleges that the Company violated federal securities laws.
In particular, the Mesa Air Group lawsuit alleges that (1) Mesa Air Group’s operational performance was poor and below industry standards; (2) Mesa Air Group had a shortage of qualified mechanics and maintenance personnel; (3) Mesa Air Group had an inadequate number of spare aircraft and parts; (4) Mesa Air Group did not have a strong track record of reliable performance; (5) then-existing “risks” had already materialized; (6) Mesa Air Group knew of undisclosed adverse trends and uncertainties at the time of the initial public offering; and (7) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Shareholders have until June 1, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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