The Law Offices of Timothy L. Miles Informs Investors of a Class Action Lawsuit against Southwest Airlines Co.

Class action lawsuit charges Southwest Airlines Co. and certain of its top executive officers with violations of the Securities Exchange Act of 1934

NASHVILLE, TENNESSEE, UNITED STATES, January 20, 2023 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles³ reminds investors that a class action lawsuit seeking to epresent purchasers or acquirers of Southwest Airlines Co. (NYSE: LUV) publicly traded securities between June 13, 2020 and December 31, 2022, inclusive (the “Class Period”). Captioned Teroganesian v. Southwest Airlines Co., No. 23-cv-00115 (S.D. Tex.), the Southwest Airlines class action lawsuit charges Southwest Airlines and certain of its top executives with violations of the Securities Exchange Act of 1934.

If you suffered losses in Southwest Airlines and wish to serve as lead plaintiff of the Southwest Airline class action lawsuit, or have any questions, please provide visit us here¹ for no charge. You can also contact Southwest Airlines Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at tmiles@timmileslaw.com for a no charge, no-obligation case evaluation. Lead plaintiff motions for the Southwest Airlines class action lawsuit must be filed with the court no later than March 13, 2023. If you suffered losses in Southwest Airlines stock and have questions, please contact Southwest Airlines Stock Loss Lawyer Timothy L. Miles today.

Allegations in the Southwest Airlines Class Action Lawsuit

The Southwest Airlines class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Southwest Airlines continuously downplayed or ignored the serious issues with the technology it used to schedule flights and crews, and how it stood to be affected worse than other airlines in the event of inclement weather; and (ii) Southwest Airlines did not discuss how its unique point-to-point service and aggressive flight schedule could leave it prone to greater cancellations in the event of inclement weather.

During the 2022 winter season, storms disrupted the holiday travel season. As a result, Southwest Airlines cancelled thousands of flights, accounting for the vast majority of domestic flight cancellations. Thereafter, on December 26 and December 27, 2022, several news outlets published various articles detailing Southwest Airlines’ operational meltdown. For example, Business Insider published an article entitled “US Department of Transportation says it plans to look into Southwest Airlines following the airline’s ‘unacceptable’ holiday flight cancellations.” On this news, Southwest Airlines’ stock price dropped more than 12%.
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Then, on December 31, 2022, The New York Times published an article entitled “The Shameful Open Secret Behind Southwest’s Failure,” which discussed how it was an “open secret” within Southwest Airlines that it needed to modernize its scheduling systems. On this news, Southwest Airlines’ stock price declined, further damaging investors.

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¹ https://www.classactionlawyertn.com/southwest.html
² https://www.classactionlawyertn.com/southwest.html
³ https://www.classactionlawyertn.com/southwest.html