In Re Carnival Corp. Securities Litigation

Court: United States District Court for the Southern District of Florida
Case Number: 1:20-cv-22202-KMM
Class Period: 09/26/2019 - 05/01/2020
Case Contacts: James A. Harrod, Kate Aufses, Will Horowitz

On October 30, 2020 Bernstein Litowitz Berger & Grossmann LLP  was appointed as Co-Lead Counsel in the consolidated securities fraud class action lawsuit pending against Carnival Corporation and Carnival plc (collectively, “Carnival”).  This action, captioned In Re Carnival Corp. Securities Litigation, Case No. 1:20-cv-22202-KMM, is pending in the United States District Court for the Southern District of Florida and alleges violations of federal securities laws on behalf of Carnival investors who purchased or acquired Carnival’s securities between September 26, 2019, and May 1, 2020, inclusive (the “Class Period”).  Pursuant to the Court’s order, Co-Lead Counsel, on behalf of the Court-appointed Lead Plaintiffs represented by the firms, will file a consolidated complaint on or before December 15, 2020.

Investors who have losses from their transactions in Carnival securities, including stock options, during the Class Period may receive additional information about this litigation by contacting Bernstein Litowitz Berger & Grossmann LLP (Jim Harrod) at (212) 554-1502 or via email at jim.harrod@blbglaw.com.

As alleged in the complaint, throughout the Class Period, the Defendants made materially false, and/or misleading statements, and failed to disclose material adverse facts about Carnival’s manifest inability to address the spread of infectious disease on its ships (including COVID-19) and the susceptibility of its ships to the transmission of such diseases among its crew and passengers. As a result of the foregoing, Defendants’ statements about Carnival’s commitment to the health, safety, and comfort of its passengers and crew members as well as its assurances to safeguarding passengers and crew and, thereby its profitability, were false and/or misleading and/or lacked a reasonable basis.

As a result of the revelation of the truth about Carnival’s inability and unwillingness to deal with the spread of infectious diseases on its ships, Carnival investors who purchased Carnival securities on U.S. exchanges during the Class Period lost billions of dollars when Carnival’s shares declined following Carnival’s corrective revelations.

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