| COMPANY |
Southwest Airlines Co. |
| COURT |
United States District Court for the Southern District of Texas |
| CASE NUMBER |
23-cv-00115 |
| JUDGE |
The Honorable Drew B. Tipton |
| CLASS PERIOD |
June 13, 2020 and December 31, 2022 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Southwest Airlines Co. (“Southwest Airlines”) (NYSE: LUV) securities between June 13, 2020 and December 31, 2022, both dates inclusive (the “Class Period”).
The Complaint against Southwest alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’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, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On September 15, 2023, Lead Plaintiffs filed an Amended Complaint. On November 20, 2023, Defendants filed a Motion to Dismiss. On December 4, 2024, the Court denied the Motion. Defendants answered the Amended Complaint on January 27, 2025. This action is in the discovery phase and is ongoing.
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: Jonathan Naji, Esq. (484) 270-1453 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.