Norwegian Cruise Line Holdings Ltd.
Lead Plaintiff Deadline: 05/11/2020
SUMMARY OF CASE:
Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against Norwegian Cruise Line Holdings Ltd. (“Norwegian” or the “Company”) (NYSE: NCLH) and other defendants related to alleged violations of federal securities laws. If you purchased Norwegian securities between February 20, 2020 and March 12, 2020, inclusive (the “Class Period”), you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at (844) 818-6982 or firstname.lastname@example.org.
Norwegian is a global cruise company that operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. Norwegian’s American Depositary Shares (“ADSs”) trade on the New York Stock Exchange under the ticker symbol “NCLH.”
According to the lawsuit, Norwegian made false and/or misleading statements and/or failed to disclose that: (1) the Company was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, Defendants’ statements regarding the Company’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.
When the truth was revealed, as described below, the Company’s share price fell over 50% over a two-day period, from market close on March 10, 2020, through market close on March 12, 2020.
On March 11, 2020, the Miami New Times published an article entitled “Leaked Emails: Norwegian Pressures Sales Team to Mislead Potential Customers About Coronavirus.” The article reported that leaked emails from a Norwegian employee showed that the Company had directed its sales staff to lie to customers regarding COVID-19 in order to protect the Company’s bookings.
On this news, the Company’s stock fell $5.47 per share – 26.7% – to close at $15.03 per share on March 11, 2020.
Then, the next day, March 12, 2020, the Washington Post published an article entitled, “Norwegian Cruise Line managers urged salespeople to spread falsehoods about coronavirus.” This article revealed even more about Norwegian’s troubling sales tactics from leaked internal memoranda.
On this news, the Company’s stock fell another $5.38 – 35.8% – to close at $9.65 on March 12, 2020.
What You Can Do
If you purchased Norwegian ADSs between February 20, 2020 and March 12, 2020, inclusive, or if you have questions about this notice or your legal rights, you are encouraged to contact attorney Joe Pettigrew at (844) 818-6982 or email@example.com. The deadline for lead plaintiff motions is May 11, 2020.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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