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Wheels Up Experience Inc.

Securities Class Action

  • Date:
  • 4/19/2023
  • Company Name:
  • Wheels Up Experience Inc.
  • Stock Symbol:
  • UP
  • Class Period:
  • FROM 11/9/2022 TO 3/31/2023
  • Status:
  • Filed
  • Filing Date:
  • 4/19/2023
  • Court:
  • U.S. District Court: Eastern District of New York

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Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Wheels Up Experience Inc. (“Wheels Up” or the “Company”) (NYSE: UP) in the United States District Court for the Eastern District of New York on behalf of all persons and entities who purchased or otherwise acquired Wheels Up securities between November 9, 2022 and March 31, 2023, both dates inclusive (the “Class Period”). Investors have until June 20, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Wheels Up failed to address any material weaknesses with internal controls; (2) Wheels Up’s financial statements from September 30, 2022 to the present included “certain errors” such as understating net loss and overstating goodwill; (3) as a result, Wheels Up would need to restate its previously filed financial statements for certain periods; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you purchased or otherwise acquired Wheels Up shares and suffered a loss, are a long-term stockholder, 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 Brandon Walker or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out the form below.  There is no cost or obligation to you.
The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Wheels Up Experience Inc.. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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