LOS ANGELES–(BUSINESS WIRE)–$CCL #Investors—Glancy Prongay & Murray LLP (“GPM”), a national investor rights law firm, today announced that it has commenced an investigation on behalf of Carnival Corporation (“Carnival” or the “Company”) (NYSE: CCL) investors concerning the Company and its officers’ possible violations of the federal securities laws.
If you suffered a loss on your Carnival investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https://www.glancylaw.com/cases/carnival-corporation/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On April 16, 2020, when the Company 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.
Whistleblower Notice: Persons with non-public information regarding Carnival should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email firstname.lastname@example.org.
Glancy Prongay & Murray LLP is a premier law firm representing investors and consumers in securities litigation and other complex class action litigation. ISS Securities Class Action Services has consistently ranked GPM in its annual SCAS Top 50 Report. In 2018, GPM was ranked a top five law firm in number of securities class action settlements, and a top six law firm for total dollar size of settlements. With four offices across the country, GPM’s nearly 40 attorneys have won groundbreaking rulings and recovered billions of dollars for investors and consumers in securities, antitrust, consumer, and employment class actions. GPM’s lawyers have handled cases covering a wide spectrum of corporate misconduct including cases involving financial restatements, internal control weaknesses, earnings management, fraudulent earnings guidance and forward looking statements, auditor misconduct, insider trading, violations of FDA regulations, actions resulting in FDA and DOJ investigations, and many other forms of corporate misconduct. GPM’s attorneys have worked on securities cases relating to nearly all industries and sectors in the financial markets, including, energy, consumer discretionary, consumer staples, real estate and REITs, financial, insurance, information technology, health care, biotech, cryptocurrency, medical devices, and many more. GPM’s past successes have been widely covered by leading news and industry publications such as The Wall Street Journal, The Financial Times, Bloomberg Businessweek, Reuters, the Associated Press, Barron’s, Investor’s Business Daily, Forbes, and Money.
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