Investors with losses of $100,000 or more are encouraged to contact the firm
LOS ANGELES, June 08, 2020 (GLOBE NEWSWIRE) --
The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Carnival Corporation ("Carnival" or the "Company") (NYSE: CCL)investors that acquired securities during the “Class Period,” January 1, 2020 and May 01, 2020. Eligible Carnival investors have until July 27, 2020 to request that the Court appoint you as lead plaintiff.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
On April 16, 2020, when Carnival still had at sea two of its cruise ships, Bloomberg Businessweek published an article titled "Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going." The article stated that Carnival may have failed to effectively protect its passengers from COVID-19 on a series of cruise voyages, and indeed continued to operate new cruise departures despite its knowledge that the threat posed by COVID-19 had materialized on its ships and was likely to proliferate further.
On this news, the Company's share price fell $0.53 per share, or over 4%, to close at $11.85 per share on April 16, 2020.
Then, on May 1, 2020, The Wall Street Journal published an article titled "Cruise Ships Set Sail Knowing the Deadly Risk to Passengers and Crew." The article detailed how cruise ships, particularly Carnival ships, facilitated the spread of COVID-19, and provided new facts on early warning signs Carnival and its affiliated cruise lines possessed and the Company's disclosure failures. Further, the article also noted that The House Committee on Transportation and Infrastructure had requested documents from Carnival related "to Covid-19 or other infectious disease outbreaks aboard cruise ships" and that testimony from a different investigation in Australia exposed that Carnival and its affiliated cruise lines may have misled shore officials by concealing those exhibiting COVID-19 symptoms before docking.
On this news, the Company's share price fell $1.97 per share, or over 12%, to close at $13.93 per share, thereby injuring investors.
The complaint filed in this lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company's medics were reporting increasing events of COVID-19 illness on the Company's ships; (2) that Carnival was violating port of call regulations by concealing the amount and severity of COVID-19 infections on board its ships; (3) that in responding to the outbreak of COVID-19, Carnival failed to follow the Company's own health and safety protocols developed in the wake of other communicable disease outbreaks; (4) by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world; and (5) that as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Please visit our website to review more information and submit your transaction information. If you suffered a loss you have until July 27, 2020 to request that the Court appoint you as lead plaintiff. Eligible investors can seek an active role in the pending litigation by petitioning the court for appointment as a lead plaintiff. Lead plaintiffs are appointed by the court to act as a fiduciary on behalf of other injured investors. Also, notably for investors concerned about time and expense of the litigation, the lead plaintiffs do not bear any direct cost or expense of the case, and on the upside are eligible to receive a monetary award for participating in the case.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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