NEW YORK, April 13, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of investors that purchased Mesa Air Group, Inc. (NASDAQ: MESA) securities pursuant and/or traceable to Mesa Air Group's August 2018 initial public offering (the "IPO" or "Offering").
All investors who purchased shares of Mesa Air Group, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of you may, no later than June 1, 2020, request that the Court appoint you lead plaintiff of the proposed class.
The filed complaint alleges that the registration statement for the IPO contained false and/or misleading statements and/or failed to disclose that:
- Mesa's operational performance was poor and below industry standards;
- Mesa had a shortage of qualified mechanics and maintenance personnel;
- Mesa had an inadequate number of spare aircraft and parts;
- Mesa did not have a strong track record of reliable performance;
- then-existing "risks" had already materialized;
- Mesa knew of undisclosed adverse trends and uncertainties at the time of the IPO; and
- as a result, defendants' public statements were materially false and/or misleading at all relevant times.
In August of 2018, Mesa conducted its IPO in which it sold approximately 11 million shares of common stock for $12.00 per share.
Since the IPO, the Company's stock price has significantly fallen below the offering price, closing at $3.11 per share on March 30, 2020, or 74% less than its original IPO price.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE Wolf Haldenstein Adler Freeman & Herz LLP