NEW YORK, May 21, 2020 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, reminds investors that a class action lawsuit is pending against Mesa Air Group, Inc. (“Mesa Air” or the “Company”) (NASDAQ: MESA), and other defendants, alleging violations of federal securities laws related to the Company’s August 2018 initial public offering (“IPO”). If you purchased Mesa Air securities before October 2018, you are encouraged to contact Scott+Scott attorney Joe Pettigrew for additional information at (844) 818-6982 or jpettigrew@scott-scott.com. The lead plaintiff deadline is June 1, 2020.
Mesa Air is the holding company for Mesa Airlines, Inc., which provides regional air carrier services under capacity purchase agreements with American Airlines and United Airlines.
The lawsuit alleges the offering documents issued in connection with the IPO contained false and/or misleading statements and/or failed to disclose that: (1) Mesa Air’s operational performance was poor and below industry standards; (2) Mesa Air had a shortage of qualified mechanics and maintenance personnel; (3) Mesa Air had an inadequate number of spare aircraft and parts; (4) Mesa Air did not have a strong track record of reliable performance; (5) then-existing “risks” had already materialized; and (6) Mesa Air knew of undisclosed adverse trends and uncertainties at the time of the IPO.
Since the IPO, as the truth about the Company came out, Mesa Air’s stock price has significantly fallen below its IPO price.
On March 30, 2020, the Company’s stock closed at $3.11 per share, or 74% below its IPO price.
What You Can Do
If you purchased Mesa Air securities, 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 jpettigrew@scott-scott.com.
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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CONTACT:
Joe Pettigrew
Scott+Scott Attorneys at Law LLP
230 Park Avenue, 17th Floor, New York, NY 10169-1820
(844) 818-6982
jpettigrew@scott-scott.com