The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Norwegian Cruise Line Holding...
March 20 2020 - 10:33PM
Business Wire
The Law Offices of Frank R. Cruz announces that a class action
lawsuit has been filed on behalf of persons and entities that
purchased or otherwise acquired Norwegian Cruise Line Holdings Ltd.
("Norwegian" or the Company") (NYSE: NCLH) securities between
February 20, 2020 and March 12, 2020, inclusive (the “Class
Period”). Norwegian investors have until May 11, 2020 to
file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
participate.
On March 11, 2020, the Miami New Times published an article,
titled “Leaked Emails: Norwegian Pressures Sales Team to Lie About
Coronavirus.” According to the article, the leaked emails show
Norwegian managers pressuring sales employees to lie to customers
about the threat of the coronavirus (COVID-2019) to protect the
Company against cancellations. One of the emails reportedly advises
sales staff to tell customers, "Coronavirus can only survive in
cold temperatures, so the Caribbean is a fantastic choice for your
next cruise."
On this news, the Company’s share price fell $5.47 or over 26%,
to close at $15.03 per share on March 11, 2020, thereby injuring
investors.
The complaint alleges that defendants throughout the Class
Period made false and/or misleading statements and/or failed to
disclose: (1) that they were employing sales tactics of providing
customers with unproven and/or blatantly false statements about
COVID-19 to entice customers to purchase cruises, thus endangering
the lives of both their customers and crew members; and (2) that as
a result, defendants' statements regarding Norwegian's business and
operations were materially false and misleading and/or lacked a
reasonable basis at all relevant times.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Norwegian securities during the Class Period,
you may move the Court no later than May 11, 2020 to ask the
Court to appoint you as lead plaintiff. To be a member of the Class
you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you purchased Norwegian securities, have information or
would like to learn more about these claims, or have any questions
concerning this announcement or your rights or interests with
respect to these matters, please contact Frank R. Cruz, of The Law
Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los
Angeles, California 90067 at 310-914-5007, by email to
info@frankcruzlaw.com, or visit our website at
www.frankcruzlaw.com. If you inquire by email please include your
mailing address, telephone number, and number of shares
purchased.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20200320005625/en/
The Law Offices of Frank R. Cruz, Los Angeles Frank R. Cruz,
310-914-5007 fcruz@frankcruzlaw.com www.frankcruzlaw.com
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