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

Southwest Airlines Co. (NASDAQ:OPEN; OPENW)

NASHVILLE, TENNESSEE, UNITED STATES, January 21, 2023 /EINPresswire.com/ -- The Law Offices of Timothy L. Miles 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 here 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%.
​
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.

Southwest Airlines Shareholders Urged to Contact the Firm

If you purchased Southwest securities, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click here for more information or contact Timothy L. Miles, Esquire, Toll-Free at 855-846-6529, or by email to tmiles@timmileslaw.com. If you inquire by email please include your mailing address, telephone number, and the number shares owned.

About Timothy L. Miles

Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell^® and ALM as a 2022 Top Ranked Lawyer and a 2022 Top Rated Litigator. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell^®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019).

Awards: Top Rated Litigator by Martindale-Hubbell^® and ALM (2019); 2019 Elite Lawyer of The South by Martindale-Hubbell^® and ALM (2019); Member of the Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association (2017-2019); AV^® Preeminent™ Rating by Martindale-Hubble^® (2014-2020); PRR AV Preeminent Rating on Lawyers.com (2017 & 2019); The Top-Rated Lawyer in Litigation™ for Ethical Standards and Legal Ability (Martindale-Hubble^® 2015); Lifetime Achievement Award by Premier Lawyers of America (2019); Superb Rated Attorney (Avvo); Avvo Top Rated Lawyer for (Avvo 2017-2020). Mr. Miles has authored numerous publications advocating for shareholdings including most recently: Free Portfolio Monitoring Services Offered by Plaintiff Securities Firms Provides Significant Benefits To Investors (Timothy L. Miles, Dec. 3, 2019).



Timothy Lee Miles
Law Offices Of Timothy L. Miles
+1 615-587-7384
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
TikTok

Timothy Lee Miles Miles
Law Offices Of Timothy L. Miles
+1 615-587-7384
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Instagram
YouTube
TikTok
Other

Timothy L. Miles Awarded AV Preeminent Rating by Martindale Hubble

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.