Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Arizona on behalf of shareholders of Mesa Air Group, Inc. if they purchased the Company’s shares issued in connection with its August 2018 initial public stock offering (the “IPO”).
Mesa and certain of its executives are charged with failing to disclose material information in its IPO Registration Statement and Prospectus, violating federal securities laws.
The alleged false and misleading statements and omissions include, but are not limited to, that: (i) the Company’s operational performance failed to meet industry standards; (ii) the Company lacked sufficient qualified mechanics and maintenance personnel; (iii) the Company lacked a sufficient number of spare aircraft and parts; (iv) the Company’s track record for reliable performance was not robust; (v) then-existing “risks” had already materialized; (vi) the Company knew of undisclosed adverse trends and uncertainties at the time of the IPO; and (vii) as a result of the foregoing, Mesa’s statements were materially false and misleading at all relevant times.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until June 1, 2020 to request that the court appoint them lead plaintiff.