The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Allegiant Travel Company (NASDAQ: ALGT) who purchased shares between June 8, 2015 and April 13, 2018. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the ALGT lawsuit alleges that (1) Allegiant lacked adequate systems to ensure its aircraft were being properly maintained; (2) consequently, Allegiant was not operating responsibly and ethically, and providing safe working conditions for its employees; and (3) as a result, defendants' public statements were materially false and misleading at all relevant times. On April 13, 2018, shares of Allegiant fell after news outlets reported the Company would be featured on 60 Minutes as part of an investigation of the Companyâ€™s safety and maintenance record. Then on April 15, 2018, CBS aired the report, addressing aircraft safety and maintenance issues at Allegiant. Following this news, shares of Allegiant fell from a close of $165.25 on April 12, 2018, to a close of $146.40 per share on April 16, 2018.
Shareholders have until June 25, 2018 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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