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. On May 14, the Court granted final approval of the Settlement and entered Final Judgment. On December 10, the Court issued an Order granting distribution of the Settlement funds.