Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Norwegian Cruise Line Holdings Ltd. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Norwegian Cruise Line Holdings Ltd. (“Norwegian” or the “Company”) (NYSE:NCLH) of the May 11, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Norwegian stock or options between February 20, 2020 and March 12, 2020 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the Southern District of Florida on behalf of all those who purchased Norwegian securities between February 20, 2020 and March 12, 2020 (the “Class Period”). The case, Douglas v. Norwegian Cruise Lines et al, No. 20-cv-21107 was filed on March 12, 2020, and has been assigned to Judge Robert N. Scola, Jr.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, Defendants’ statements regarding the Company’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Specifically, on March 12, 2020, the Washington Post published the article, “Norwegian Cruise Line managers urged salespeople to spread falsehoods about coronavirus.” The article revealed even more about Norwegian’s sales tactics from leaked internal memoranda including dangerous statements such as: “Focusing all of your attention is actually illogical, especially when we live in a world of daily threats and dangers anyhow,” the manager wrote under the headline “The coronavirus will not affect you.” “Fact: Coronavirus in humans is an overhyped pandemic scare.”
The Washington Post article also disclosed Company executive’s reaction to the leaked memorandum, including: The whistleblower told The Post that company leaders are trying to find out who shared the emails. In one email sent Monday evening, after a Miami New Times journalist contacted the company, an executive wrote, “One of our own ratted.”
On this news, Norwegian’s stock fell from a closing price of $15.03 per share on March 11, 2020 to $9.65 on March 12, 2020—a $5.38 or 35.80% drop.
Norwegian Cruise Line Holdings Ltd. (NCLH)
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Filed on 03/18/2020
Lead Plaintiff Deadline 05/11/2020
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Richard W. Gonnello firstname.lastname@example.org Phone (212) 983-9330 Fax (212) 983-9331