Investigation announced for Long-Term Investors in shares of Southwest Airlines Co. (NYSE: LUV)

An investigation was announced for current long-term investors in shares of Southwest Airlines Co. (NYSE: LUV) concerning potential breaches of fiduciary duties by certain directors of Southwest Airlines Co..

Investors who are current long term investors in Southwest Airlines Co. (NYSE: LUV) shares, 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 for current long term investors in NYSE: LUV stocks follows a lawsuit filed against Southwest Airlines Co. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: LUV stocks, concerns whether certain Southwest Airlines Co. directors are liable in connection with the allegations made in that lawsuit.

On December 26, 2022, Business Insider published an article entitled "US Department of Transportation says it plans to look into Southwest Airlines following the airline's 'unacceptable' holiday flight cancellations." The article stated, among other things, that the "U.S. DOT tweeted Monday it will examine whether Southwest is abiding by its customer service policy[,]" and "Southwest cancelled nearly 3,000 flights on the day after Christmas, the most of any U.S. airline."

Shares of Southwest Airlines Co. (NYSE: LUV) declined to $29.41 per share on March 15, 2023.

According to the complaint the plaintiff alleges on behalf of purchasers of Southwest Airlines Co. (NYSE: LUV) common shares between June 13, 2020 and December 31, 2022, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 13, 2020 and December 31, 2022, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Southwest Airlines continuously downplayed or ignored the serious issues with the technology it used to schedule flights and crews, and how it stood to be affected worse than other airlines in the event of inclement weather, and that it did not discuss how it's unique point-to-point service and aggressive flight schedule could leave it prone in the event of inclement weather; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Southwest Airlines Co. (NYSE: LUV) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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.

This release was published on openPR.