Did Norwegian Cruise Line Officials engage in Security Fraud?
An investigation of whether Norwegian Cruise Line Holding and certain of its officers or directors have engaged in securities fraud or other unlawful business practices is being conducted by a U.S. Law Firm, with offices in New York, Chicago, Los Angeles, and Paris is planning a class-action lawsuit.
On March 11, 2020, the Miami New Times published an article entitled “Leaked Emails: Norwegian Pressures Sales Team to Lie About Coronavirus.” The article described several leaked internal emails indicating that some Norwegian managers asked sales staff to lie to customers regarding COVID-2019 in order to protect the Company’s bookings. For example, one such email directed Norwegian’s sales team to tell customers that the “Coronavirus can only survive in cold temperatures, so the Caribbean is a fantastic choice for your next cruise.” On this news, Norwegian’s stock price fell $5.47 per share, or 26.68%, to close at $15.03 per share on March 11, 2020.
Robert S. Willoughby, an attorney for the law firm is reaching out to shareholders and is encouraging them to join this class action suit. He said: For more than 80 years later, our firm continues in the tradition of our founder established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.