The Law Offices of Frank R. Cruz Announces Investigation of Southwest Airlines Co. (LUV) on Behalf of Investors
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The Law Offices of Frank R. Cruz announces an investigation of Southwest Airlines Co. (“Southwest” or the “Company”) (NYSE: LUV) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On December 22, 2022, Southwest began to cancel flights in the aftermath of a winter storm. In the following days, the airline cancelled 15,004 flights – more than half of its typical flight schedule – and by December 28, about 87% of all cancelled flights in the US were from Southwest alone. The Transport Workers Union president stated that she and other labor leaders had repeatedly told management that Southwest’s scheduling technology is not good enough, with a “complicated” model for assigning flights and an “antiquated internal system” used for managing and staffing trips.
On this news, Southwest’s stock price fell $2.15, or 10.8%, over two consecutive trading days to close at $32.19 per share on December 28, 2022, thereby injuring investors.
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If you purchased Southwest securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230104005978/en/
