NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Spirit Airlines, Inc. ("Spirit" or the "Company") (NYSE: SAVE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Spirit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 6, 2024, Spirit issued a press release announcing the Company's first quarter 2024 financial results. Spirit reported operating revenues down 6.2% year-over-year, resulting in a loss of $1.46 per share. The Company also reported a 16.3% drop in fare revenue per segment, a 1.4% drop in non-ticket revenue, and a 0.1% drop in load factor. Spirit Chief Executive Officer Ted Christie said that "[t]he competitive environment remains challenging due to elevated capacity in many of the markets we serve."
On this news, Spirit's stock price fell $0.36 per share, or 9.7%, to close at $3.35 per share on May 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
