NEW YORK, April 16, 2018 /PRNewswire/ -- Bernstein Liebhard LLP is investigating potential securities claims on behalf of shareholders of Allegiant Travel Company ("Allegiant" or the "Company") (NASDAQ: ALGT).
On April 13, 2018, CBS News aired a preview of a 60 Minutes segment revealing that Allegiant's own pilots had serious concerns about the safety of the carrier's airplanes. The union representing Allegiant's pilots previously sent a letter to Allegiant's board of directors complaining about the Company's bare minimum approach to maintenance and safety, citing 38 potentially dangerous incidents between January 2015 and March 2015 alone, including engine failures, pressurization problems, smoke in the cockpit, and radar issues. On the news revealed in the preview, shares of Allegiant fell $14.20 per share or over 8% to close at $151.05 per share on April 13, 2018.
Then, on April 15, 2018, 60 Minutes aired the full segment on Allegiant, which, in addition to expanding on the litany of safety issues plaguing the Company, further revealed that "Allegiant's maintenance department tries to talk pilots out of reporting problems with their aircraft to avoid delays and keep the planes moving." According to Allegiant's pilots union President, Captain Daniel Wells, this is illegal because "captains are required to report any mechanical deficiencies of an aircraft." On this news, shares of Allegiant fell during intraday trading on April 16, 2018.
If you are interested in discussing your rights as a shareholder, and/or have information relating to this matter, please visit https://www.bernlieb.com/case-list/case-view/?case_id=51 or contact Daniel Sadeh toll free at (877) 779-1414 or dsadeh@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individuals, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. The Firm has been named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for ten consecutive years.
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Contact Information
Daniel Sadeh
Bernstein Liebhard LLP
http://www.bernlieb.com
(212) 779-1414
dsadeh@bernlieb.com
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SOURCE Bernstein Liebhard LLP