On or around 01/14/2020 (Settlement preliminarily approval)
Filing Date: April 24, 2018
According to the Complaint, Allegiant Travel Company focuses on the provision of travel services and products to residents of under-served cities in the United States. The Company offers scheduled air transportation on limited frequency nonstop flights between under-served cities and leisure destinations.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Allegiant lacked adequate systems to ensure its aircraft were being properly maintained; (2) consequently, Allegiant was not operating responsibly and ethically, and providing safe working conditions for its employees; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
On July 16, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. On September 11, the Court issued an Order transferring this case to the District of Nevada. Lead Plaintiff filed an amended Complaint on October 22. Defendants filed a Motion to Dismiss the amended Complaint on December 7. On September 9, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. On December 31, the parties entered into a Stipulation and Agreement of Settlement. On January 14, 2020, the Court granted preliminary approval of the Settlement.
Company & Securities Information
Defendant: Allegiant Travel Company
Headquarters: United States
Ticker Symbol: ALGT
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Daniel Checkman, et al. v. Allegiant Travel Company, et al.