Faruqi & Faruqi, LLP, Lead Counsel, Receives Court Approval of $5 Million Settlement for Shareholder Class in Mesa Securities Litigation

Faruqi & Faruqi, LLP is pleased to announce that on April 6, 2023, class representative DeKalb County Pension Fund (“DeKalb”) achieved final approval of the class action settlement in the securities class action Lowthorp v. Mesa Air Group Inc., et al., CV-20-00648 (D. Ariz.). The settlement was the result of over two years of hard fought litigation over alleged misrepresentations in Mesa Air’s prospectus issued for its 2018 IPO in violation of Sections 11, 12 and 15 of the Securities Act of 1933, and resulted in an all cash total settlement of $5 million. DeKalb served as lead plaintiff and class representative and Faruqi & Faruqi served as sole lead counsel. In approving the settlement at the final approval hearing on April 6, the court complimented the Faruqi & Faruqi lawyers that handled the case along with defense counsel saying, “you all should be very proud with all of your work and the quality of lawyering that you provided to your clients.”