Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Southwest Airlines Co. (“Southwest Airlines”) (NYSE: LUV) securities between June 13, 2020 and December 31, 2022, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Southwest’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Southwest 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; (2) it did not discuss how its unique point-to point service and aggressive flight schedule could leave it prone in the event of inclement weather; and (3) as a result of the foregoing, Defendants’ statements about Southwest’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On November 20, 2023, Defendants filed a Motion to Dismiss, which the Court denied on December 4, 2024. On December 21, 2024, Defendants filed a Motion for Reconsideration, which the Court granted and dismissed the case on April 1, 2026. On May 20, 2026, the Lead Plaintiff appealed the District Court’s decision to the United States Court of Appeals for the Fifth Circuit. The appeal is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.