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The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased American Depositary Shares of Ryanair Holdings plc (NASDAQ: RYAAY) between May 30, 2017 and September 28, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.
Shareholders have until January 7, 2019 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.
Ryanair Holdings plc is referred to as “Ryanair Holdings” in this document. The “Company” in question is Ryanair.
depending on the situation, Ryanair Holdings or Ryanair Holdings along with its consolidated subsidiaries. The word Ryanair
unless otherwise specified, refers to Ryanair DAC and its consolidated subsidiaries, which is a wholly owned subsidiary of Ryanair Holdings.
The circumstances demand otherwise. Ryanair’s completely owned subsidiaries are referred to as the “Ryanair Group”
includes Ryanair Sun S.A. in its holdings Laudamotion GmbH (“Lauda”), Malta Air Limited (“Buzz”), Ryanair DAC, and Ryanair
British Limited. The 12-month period that ended on March 31 of the cited year is referred to as the “fiscal year.” the word
The term “Ordinary Shares” refers to the Company’s outstanding common stock with a par value of 0.600 euros per share.
The internal control over financial reporting of Ryanair Holdings plc and its affiliates (the “Company”) has been examined by us.
based on criteria defined in Internal Control – Integrated Framework (2013) released by the as of March31, 2021
Committee of the Treadway Commission’s Sponsoring Organizations. The Company maintained, in our view, that all
Effective internal control over financial reporting in material aspects as of March 31, 2021, based on stated criteria
Integrated Framework for Internal Control, published by the Committee of Sponsoring Organizations of the
Commission Treadway.
The Board of Directors of Ryanair Holdings is given certain powers under Ryanair Holdings’ articles of association (the “Articles”) to take action to ensure that the
number of Ordinary Shares held in Ryanair Holdings by non-EU nationals (“Affected Shares”) does not reach a level that could jeopardize the Company’s entitlement to continue to hold or enjoy the benefit of any license, permit, consent, or privilege which it holds or enjoys and which enables it to carry on business as an air carrier. The Directors, from time to time, set a “Permitted Maximum” on the number of the Company’s Ordinary Shares that may be owned by non-EU nationals at such level as they believe will comply with EU law.
As a holding company for Ryanair Limited, currently known as Ryanair, Ryanair Holdings was established in 1996. Company for Designated Activities (“DAC”). The latter runs a low-cost, regularly scheduled airline that provides short-haul, primarily inside Europe, point-to-point routes. The company launched Buzz, formerly known as Ryanair Sun, in the 2019 fiscal year. (a Maltese wet lease presently) and Lauda (a Polish charter and scheduled passenger airline with a Polish AOC). Ryanair U.K. was established, as was a Maltese AOC-provider to the Ryanair Group. (with a British AOC). Malta’s financial year 2020 Air joined the Ryanair Group as its sixth airline. Buzz, Lauda, Malta Air, Ryanair DAC, and Ryanair UK are all airlines. are entirely airlines that are members of the Ryanair Group. View “Item 5”
The SEC receives annual reports, special reports, and other documents from Ryanair Holdings. In its SEC filings, available at http://www.sec.gov, the SEC’s website. This website includes reports, proxy statements, and information. further details on issuers that submit documents to the SEC electronically. Additionally, Ryanair Holdings offers on its its annual reports on Form 20-F and the text of its reports on Form 6-K, including any amendments, on its website, free of charge. adjustments to these reports and certain other SEC filings as soon as it is practical to do so after electronic submission to or delivery to the SEC.
Low-cost airline-related services are provided by Ryanair Holdings Plc. In addition to its primary air passenger service, it also operates in a number of auxiliary activities and services, including as planned non-flight services, Internet-related services, and the sale of goods and beverages during flight. Ryanair U.K. is one of the company’s airlines, along with Buzz, Lauda, Malta Air, and Ryanair DAC. The business was established on June 5, 1996, and it has its headquarters in Dublin, Ireland.
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