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Investigation announced for Investors of Carnival Corporation & Plc (NYSE: CCL) over possible Violations of Securities Laws

05-12-2020 10:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation for investors in Carnival Corporation & Plc (NYSE: CCL) shares over potential securities laws violations.

An investigation for investors in Carnival Corporation & Plc (NYSE: CCL) shares over potential securities laws violations.

Carnival Corporation & Plc is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Carnival Corporation & Plc (NYSE: CCL), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Carnival Corporation & Plc (NYSE: CCL) concerning whether a series of statements by Carnival Corporation & Plc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Miami, FL based Carnival Corporation & plc operates as a leisure travel company. Carnival Corporation & Plc reported that its Total Revenue rose from $18.88 billion for the 12 months period that ended on November 30, 2018 to over $20.82 billion for the 12 months period that ended on November 30, 2019, and that Net Income over those respective time periods declined from over $3.15 billion to $2.99 billion.

Following the outbreak of COVID-19 worldwide, shares of Carnival Corporation & Plc (NYSE: CCL) declined to as low as $7.80 per share on April 2, 2020. Since then NYSE: CCL shares gained value and reached as high as $16.83 per share on April 29, 2020.

Then, on May 1, 2020, an article was published entitled "House Panel Opens Carnival Probe Over Cruise Ship Outbreaks." The article reported, in part, that "[t]he U.S. House Committee on Transportation and Infrastructure . . . opened an inquiry into Carnival Corp.'s handling of the Covid-19 outbreaks that have resulted in more than 1,500 confirmed cases of the novel coronavirus aboard its cruise ships, as well as dozens of passengers and crew deaths." The article quoted a letter to the Company from the House committee chair, Peter Fazio (D. Or.), which reportedly stated, in part, that "' We would hope that the reality of the Covid-19 pandemic will place a renewed emphasis on public health and passenger safety, but frankly that has not been seen up to this point. . . . It seems as though Carnival Corporation and its portfolio of nine cruise lines, which represents 109 cruise ships, is still trying to sell this cruise line fantasy and ignoring the public health threat.'"

Shares of Carnival Corporation & Plc (NYSE: CCL) declined on May 4, 2020, to as low as $12.75 per share.

Those who purchased shares of Carnival Corporation & Plc (NYSE: CCL) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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