NEW YORK, Aug. 19, 2024 /PRNewswire/ -- Moore Law, PLLC, a shareholder law firm located on Wall Street, is investigating potential claims against:
- American Airlines Group Inc. (NASDAQ: AAL)
Shareholders should email Fletcher@fmoorelaw.com
The investigation concerns, among other possible things, an earnings call during which CEO, President, and Director Robert D. Isom provided the following outlook for fiscal year 2024: "Over the past year, we have made changes to our distribution strategy to give customers direct improved access to our best products and enable American to provide better customer service to the individual traveler. We're very encouraged by the results."
This and other statements like this may have been false or misleading and misrepresented the true state of American Airlines, and that American Airlines was simultaneously concealing material adverse facts including, notably, that American Airlines's sales and distribution strategy was not driving projected revenue.
On May 28, 2024, after the market closed, American Airlines announced that its CCO was departing, and disclosed that the company was lowering its guidance. In an industry conference the following day, May 29, 2024, American Airlines's CEO stated that the company's "expectation for domestic performance has worsened materially since [it] provided guidance in April," and that the revision "is largely due to a softer domestic environment than [the company was] expecting and [its] performance within that environment."
On this news, American Airlines's stock price fell $1.82, or 13.5%, to close at $11.62 per share on May 29, 2024.
If you own American Airlines Group Inc. (NASDAQ: AAL), please contact Fletcher Moore by email at fletcher@fmoorelaw.com or (212) 709-8245.
ABOUT MOORE LAW PLLC
Moore Law is a NYC plaintiff litigation law firm for investors. We hold officers and directors accountable for breaches of fiduciary duty, fraud, insider trading, wasteful spending, and other corporate malfeasance. There is no cost to you. Our investor cases are contingency only.
Fletcher Moore, Esq.
Moore Law, PLLC
fletcher@fmoorelaw.com
(212) 709-8245
www.fmoorelaw.com
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