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Lawsuit filed for Investors in shares of Carnival Corporation & Plc (NYSE: CCL)

06-04-2020 09:21 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Carnival Corporation & Plc (NYSE: CCL) shares.

A lawsuit was filed on behalf of investors in Carnival Corporation & Plc (NYSE: CCL) shares.

The Shareholders Foundation announced that an investor, who purchased shares of Carnival Corporation & Plc (NYSE: CCL), filed a lawsuit over alleged violations of Federal Securities Laws by Carnival Corporation & Plc.

Investors who purchased shares of Carnival Corporation & Plc (NYSE: CCL) have certain options and for certain investors are short and strict deadlines running. Deadline: July 27, 2020. NYSE: CCL investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On April 16, 2020, when Carnival Corporation & Plc still had at sea two (2) of its cruise ships, an article was published titled “Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going.” In that article, it was revealed that Carnival Corporation & Plc may have failed to adequately protect passengers from COVID-19 on a series of cruise voyages, and indeed continued to operate new cruise departures despite its knowledge that the threat posed by COVID-19 had materialized on its ships and was likely to proliferate further.

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.

The plaintiff claims that between January 28, 2020, and May 1, 2020, the Defendants failed to disclose to investors that the Company’s medics reported increasing events of COVID-19 illness on the Company’s ships, that Carnival had violated port of call regulations by concealing the amount and severity of COVID-19 infections onboard its ships, that in responding to the outbreak of COVID-19, Carnival failed to follow the Company’s health and safety protocols developed in the wake of other communicable disease outbreaks, that by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world, and that as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

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

Media Contact:
Christopher Clausen
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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