Tuesday, July 2, 2024
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Pomerantz LLP is conducting an investigation into claims on behalf of American Airlines Group Inc. (“American Airlines” or the “Company”) investors. Investors should reach out to Danielle Peyton via email at [email protected] or by phone at 646-581-9980, extension 7980.
The investigation is focused on determining whether American Airlines and certain of its officers and/or directors have been involved in securities fraud or other illegal business practices.
On May 28, 2024, American Airlines made a significant announcement after the market closed, revealing the departure of its Chief Commercial Officer and a downward revision of its financial guidance. The next day, during an industry conference on May 29, 2024, the airline’s Chief Executive Officer provided further insights, stating that the company’s expectations for domestic performance had “worsened materially” since their April guidance. This downgrade was attributed to “a softer domestic environment” than anticipated and the company’s performance in that challenging environment.
In reaction to this news, American Airlines’ stock price plummeted by $1.82 per share, a decline of 13.54%, closing at $11.65 per share on May 29, 2024.
Pomerantz LLP, with a presence in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is renowned for its expertise in corporate, securities, and antitrust class litigation. Established by the late Abraham L. Pomerantz, a pioneer in securities class actions, the firm has maintained its commitment to defending the rights of victims of securities fraud, breaches of fiduciary duty, and corporate misconduct for over 85 years. Pomerantz has successfully recovered billions of dollars in damages for class members. For more information, visit www.pomlaw.com.