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Kessler Topaz Meltzer & Check, LLP: Investor Class Action Filed Against Norwegian Cruise Line Holdings Ltd. for Securities Fraud Violations

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Norwegian Cruise Line Holdings Ltd. (“Norwegian”) (NYSE: NCLH) securities from February 20, 2020 through March 12, 2020, both dates inclusive (the “Class Period”).
 

Norwegian investors may receive additional information about the case by clicking the link "Submit Your Information" above.


According to the complaint, Norwegian is a global cruise company which operates the Norwegian Cruise Line, Oceania Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. On August 1, 2017, Norwegian updated its Code of Ethical Business Conduct, which is posted on its website. The Code of Ethical Business Conduct, available throughout the Class Period, discussed health and safety standards, stating in relevant part that its environmental, health and safety “programs are designed to ensure the preservation of the environment, and safety and security of [Norwegian]’s guests, team members and vendors.”  In December of 2019, a novel coronavirus strain, COVID-19, was detected in the city of Wuhan in Hubei province, China. Since then, the virus has spread to numerous countries.  The spread of COVID-19 has had a significant impact on the cruise industry, with reports of canceled trips and half-empty ships.

The Class Period commences on February 20, 2020, when Norwegian filed a Form 8-K with the SEC. Attached to the Form 8-K was a press release reporting on Norwegian’s financial results for the quarter and full year ended December 31, 2019.  In that press release, the defendants discussed positive outlooks for Norwegian in spite of the COVID-19.

On March 11, 2020, the Miami New Times reported in an article “Leaked Emails: Norwegian Pressures Sales Team to Mislead Potential Customers About Coronavirus” that leaked emails from a Norwegian employee showed that Norwegian directed its sales staff to lie to customers regarding COVID-19. Further, the Miami New Times article revealed the financial impact the COVID-19 outbreak was causing on Norwegian and its employees.  Following this news, Norwegian’s share price fell $5.47 per share, or approximately 26.7%, to close at $15.03 per share on March 11, 2020.

The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Norwegian was employing sales tactics of providing customers with unproven and/or blatantly false statements about COVID-19 to entice customers to purchase cruises, thus endangering the lives of both their customers and crew members; and (2) as a result, the defendants’ statements regarding Norwegian’s business and operations were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you are a member of the class described above, you may no later than May 11, 2020 move the Court to serve as lead plaintiff of the class, if you so choose.


A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Returning the attached form or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case.  Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-844-887-9500 or 1-610-667-7706, or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 
1-844-887-9500 (toll free) or 1-610-667-7706 
Or by e-mail at info@ktmc.com 

Please complete this form relating to your transactions for Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) securities from February 20, 2020 through March 12, 2020, both dates inclusive (the “Class Period”).

You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 844.887.9500, or you may submit your information via email at info@ktmc.com, or you may click here to print a PDF of this form.
 

* Denotes required field
 
 
 
 
 
 
# of Shares
Price per Share
 
 
 
Principal Amount
Amount Paid
Series or CUSIP
 
 
 
# of Contracts
Price per Contract
Exercise Price
Expiration Date
Did you purchase shares of Norwegian Cruise Line Holdings Ltd. prior to the Class Period?
Are you a current or former employee of Norwegian Cruise Line Holdings Ltd. ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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