Robbins LLP informs shareholders about the

SAN DIEGO, July 19, 2024 (GLOBE NEWSWIRE) — Robbins LLP informs investors that a shareholder has filed a class action lawsuit on behalf of all investors who purchased or otherwise acquired securities of American Airlines Group Inc. (NASDAQ: AAL) between January 25, 2024 and May 28, 2024. American, through wholly owned subsidiaries and third-party regional airlines, operates as a network airline under the American Eagle name, providing scheduled passenger and cargo service throughout the United States and in various other countries around the world.

For further information please send a form, E-mail Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.

The accusations: Robbins LLP investigates allegations that American Airlines Group Inc. (AAL) misled investors about its sales strategy

The lawsuit alleges that throughout the Class Period, defendants misrepresented the true condition of the company, claiming that the company’s sales and distribution strategy did not produce projected revenues, but instead alienated customers because the strategy and its demonstrably poor execution made it difficult for customers to access the company’s services.

The truth came out after the market closed on May 28, 2024, when American announced the immediate firing of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, as well as an abrupt reduction in its near-term guidance. During a conference presentation on May 29, 2024, the Company attributed its lowered guidance to weakness in customer bookings, a domestic supply and demand imbalance, and a reduction in capacity growth. In relevant part, the Defendants announced that the reduced customer bookings were largely due to the changes American had made to its sales and distribution strategy, that they had not properly executed their strategy, and that they would now change their strategy to try to win back the customers their strategy had alienated. As a result, the Defendants reduced their guidance for the second quarter of fiscal 2024, specifically their guidance for the Company’s operating margin by a full percentage point and adjusted earnings per share for the quarter by more than 17%. On this news, American’s common stock price fell from a closing price of $13.44 per share on May 28, 2024 to $11.62 per share on May 29, 2024, a decrease of more than 13.5%.

What now: You may be eligible to participate in the American Airlines Group Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiff for the class action lawsuit must file their motions with the Court by September 16, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible to receive compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.

Representation is on a contingency basis. Shareholders pay neither fees nor expenses.

About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP Since 2002, we have been committed to helping shareholders recover losses, improve corporate governance, and hold corporate leaders accountable for wrongdoing. Since our founding, we have recovered over $1 billion for our shareholders.

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