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Class Action News

Levi & Korsinsky Announces RYAAY Class Action; RYAAY Lawsuit

Levi & Korsinsky, LLP

November 13, 2018

NEW YORK, November 7, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Ryanair Holdings plc (“Ryanair”) (NASDAQ: RYAAY) between May 30, 2017 and September 28, 2018. You are hereby notified that a RYAAY class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to: https://www.zlk.com/pslra-1/ryanair-holdings-plc-loss-form?wire=3 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you. For more information on the RYAAY Lawsuit, please contact us!

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.

 

If you suffered a loss in Ryanair you have until January 7, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.