| COMPANY |
Ryanair Holdings plc |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
18-cv-10330 |
| JUDGE |
The Hon. James Paul Oetken |
| CLASS PERIOD |
May 30, 2017 - September 28, 2018 |
| SECURITY TYPE |
American Depository Shares |
Case Background:
On November 06, 2018, the initial complaint in this securities class action was filed against Ryanair Holdings plc (“Ryanair” or the “Company”), and certain of Ryanair’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action on behalf of all purchasers of Ryanair American Depository Shares between May 30, 2017 and September 28, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Ryanair’s business and operations as a result of its aggressive anti-employee practices and opposition to employee collectivization efforts. Specifically, the complaint alleges that Defendants misrepresented and/or failed to disclose, among other things, that: (1) Ryanair’s labor relations had deteriorated in 2017 and 2018; (2) as a result, the Company was experiencing increased employee turnover and was threatened with massive strikes and other disruptions across its operations; and (3) its historical operating model and profit growth were not sustainable.
Current Status of Case:
On April 5, 2019, Plaintiffs filed an amended complaint (the “Complaint”). On June 1, 2020, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss the Complaint. On October 20, 2023, the Court entered approved the Settlement of the action. This case has concluded.
The deadline to file a claim is October 17, 2023. If you have any questions or need further information about this settlement, you may go to the following website, http://www.ryanairsecuritiessettlement.com/, or you can contact the claims administrator, Gilardi & Co. at 1-888-750-1839.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.