NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of American Airlines Group Inc. (“American Airlines” or the “Company”) (NASDAQ: AAL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether American Airlines and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 28, 2024, after the market closed, American Airlines announced the departure of its Chief Commercial Officer and lowered its guidance. In an industry conference the following day, May 29, 2024, American Airlines’ Chief Executive Officer stated that the Company’s “expectation for domestic performance has worsened materially since [it] provided guidance in April” and that its lowered guidance “is largely due to a softer domestic environment than [the Company was] expecting and [its] performance within that environment.”
On this news, American Airlines’ stock price fell $1.82 per share, or 13.54%, to close at $11.65 per share on May 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
