LOS ANGELES–(BUSINESS WIRE)–$MESA #MESA—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Mesa Air Group, Inc. (“Mesa” or “the Company”) (NASDAQ: MESA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Mesa conducted its initial public offering (“IPO”) on August 9, 2018, selling about 11 million shares of common stock at $12.00 per share. The Company’s CEO admitted on May 10, 2019, that beginning well in advance of the IPO, the Company had been “hamstrung by the fact that we had expanded a lot . . . maintenance became more difficult in terms of qualified maintenance people.” On August 9, 2019, the CEO disclosed that the Company “did not meet the performance criteria” under its American Airlines Inc. contract, and found it “very difficult to meet the performance criteria.” Based on this news, shares of Mesa consistently traded well below its IPO share price.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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