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.
The complaint alleged that during the class period, the 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 alleged that the defendants misrepresented and/or failed to disclose, among other things, that Ryanair’s labor relations had deteriorated in 2017 and 2018. As a result, the Company was experiencing increased employee turnover and was threatened with massive strikes and other disruptions across its operations, and its historical operating model and profit growth were not sustainable.
This is a securities class action on behalf of those who purchased or otherwise acquired Ryanair American Depository Shares between May 30, 2017 and September 28, 2018, inclusive.
Current Status of Case:
The lead plaintiffs filed an amended complaint on April 5, 2019. The defendants filed a motion to dismiss the amended complaint on June 14, 2019. On June 1, 2020, the Court issued an Order granting in part and denying in part the defendants' motion to dismiss. On November 13, 2020, the lead plaintiffs filed a motion for class certification. This motion for class certification is currently being briefed by the parties. This action is still ongoing.
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Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-844-887-9500 (toll free) or 1-610-667-7706
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