|Company name||Mesa Air Group, Inc.|
|Status||Class Action Complaint Filed|
NEW YORK, May 20, 2020–Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed in the United States District Court for the District of Arizona on behalf of investors that purchased Mesa Air Group, Inc. (NASDAQ: MESA) securities pursuant and/or traceable to Mesa Air Group’s August 2018 initial public offering (the “IPO” or “Offering”). Investors have until June 1, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
In August of 2018, Mesa conducted its IPO in which it sold approximately 11 million shares of common stock for $12.00 per share.
On May 10, 2019, Mesa’s Chief Executive Officer (“CEO”) revealed that over the last 18 months, well before the IPO, Mesa had been “hamstrung by the fact that we had expanded a lot… maintenance became more difficult in terms of qualified maintenance people.”
Then on August 9, 2019, Mesa’s CEO stated that Mesa “did not meet the performance criteria” under its contract with American Airlines, Inc.
Since the IPO, the Company’s stock price has significantly fallen below the IPO price, closing at $3.11 per share on March 30, 2020, or 74% less than its IPO price.
If you purchased Mesa Air Group securities pursuant and/or traceable to the IPO, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at email@example.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.