Trending...
- One Night. One Encounter. A New Season Of Purpose
- Expanding Into Medically Supervised Wellness With Major Apollo Wellness Centers Announcement; Sibannac, Inc. (Stock Symbol: SNNC)
- Dynamic Relaunch as AI Predictive Cybersecurity Company Optimized to Prevent Threats Proactively: Cycurion, Inc. (N A S D A Q: CYCU)
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Royal Caribbean Cruises Ltd. ("Royal Caribbean" or the "Company") (NYSE: RCL) securities between February 4, 2020 and March 17, 2020, inclusive (the "Class Period"). Royal Caribbean investors have until December 7, 2020 to file a lead plaintiff motion.
Investors suffering losses on their Royal Caribbean investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 25, 2020, Royal Caribbean disclosed that the COVID-19 pandemic would adversely impact its earnings by $0.90 per share.
On this news, the Company's share price fell $12.55, or 14%, to close at $77.00 per share on February 27, 2020.
On March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the continued spread of COVID-19.
More on The PennZone
On this news, the Company's share price fell $7.30, or 14%, to close at $44.37 per share on March 11, 2020.
On March 11, 2020, Royal Caribbean's largest competitor, Carnival Corporation, announced a 60-day suspension of all operations, which prompted concerns that Royal Carribean's safety procedures were not as "aggressive" as claimed. At the same time, Royal Caribbean also cancelled two cruises.
On this news, the Company's share price fell $14.10, or 32%, to close at $30.27 per share on March 12, 2020.
On March 18, 2020, Stifel cut its one-year price target on Royal Caribbean from $161 to $40.
On this news, the Company's share price fell $5.33, or 19% to close at $22.33 per share on March 18, 2020.
The complaint filed in this class action alleges that throughout the Class Period, the Defendants made false and/or misleading statements and failed to disclose material adverse facts about Royal Caribbean's decrease in bookings outside China and its faulty policies and protocols to prevent the spread of COVID-19 on its ships. Specifically, regarding global bookings, Royal Caribbean made statements that: (1) misled investors to believe that any issue related to COVID-19 was relatively inconsequential; (2) falsely assured investors that bookings outside China were robust with no signs of a slowdown; and (3) failed to disclose that Royal Caribbean was undergoing material declines in bookings worldwide due to client concerns over COVID-19.
More on The PennZone
Furthermore, regarding safety protocols, the Company made statements that: (1) falsely assured investors that it implemented thorough safety protocols; (2) such measures were expected to ultimately contain the spread of COVID-19; and (3) failed to disclose that its ships were following grossly inadequate procedures that would enable the spread of COVID-19 and pose a substantial risk to passengers and crews; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased Royal Caribbean securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Investors suffering losses on their Royal Caribbean investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 25, 2020, Royal Caribbean disclosed that the COVID-19 pandemic would adversely impact its earnings by $0.90 per share.
On this news, the Company's share price fell $12.55, or 14%, to close at $77.00 per share on February 27, 2020.
On March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the continued spread of COVID-19.
More on The PennZone
- Communities In Schools of Eastern Pennsylvania Honors United Way and Local Leaders
- New Finnish Affiliate Site Ilmaiskierrokset.com Puts Wager-Free Spins in the Spotlight
- Major FDA Victory; Preservative-Free Ketamine Approved Ahead of November 10 Goal Date as Commercial Launch Opportunity Comes Into Focus for NRx Pharma
- Veterans Day Breakfast Celebration in Valley Forge to Honor America's Military Heroes
- Best Black Friday 2026 Deals on Lightweight Foldable Electric Wheelchairs – Save Up to 60%
On this news, the Company's share price fell $7.30, or 14%, to close at $44.37 per share on March 11, 2020.
On March 11, 2020, Royal Caribbean's largest competitor, Carnival Corporation, announced a 60-day suspension of all operations, which prompted concerns that Royal Carribean's safety procedures were not as "aggressive" as claimed. At the same time, Royal Caribbean also cancelled two cruises.
On this news, the Company's share price fell $14.10, or 32%, to close at $30.27 per share on March 12, 2020.
On March 18, 2020, Stifel cut its one-year price target on Royal Caribbean from $161 to $40.
On this news, the Company's share price fell $5.33, or 19% to close at $22.33 per share on March 18, 2020.
The complaint filed in this class action alleges that throughout the Class Period, the Defendants made false and/or misleading statements and failed to disclose material adverse facts about Royal Caribbean's decrease in bookings outside China and its faulty policies and protocols to prevent the spread of COVID-19 on its ships. Specifically, regarding global bookings, Royal Caribbean made statements that: (1) misled investors to believe that any issue related to COVID-19 was relatively inconsequential; (2) falsely assured investors that bookings outside China were robust with no signs of a slowdown; and (3) failed to disclose that Royal Caribbean was undergoing material declines in bookings worldwide due to client concerns over COVID-19.
More on The PennZone
- Immerse Yourself in the Historic Tochigi Autumn Festival, Celebrated Every Two Years Since 1874
- Resident Inspect Expands Virtual Property Inspections With AppFolio and Rentvine Integrations
- Unlocking the Next Phase of Growth with New AI Innovations; Targeting 2027 as Breakeven; Revenue Momentum Accelerates: ZenaTech (N A S D A Q: ZENA)
- Dr. Marilyn Pendelton Releases The Grief Reset to Address Grief Beyond Death
- AeroNet Deploys netElastic vBNG and CGNAT with Tarana Wireless to Deliver Scalable, Fiber-Class Broadband Across Puerto Rico
Furthermore, regarding safety protocols, the Company made statements that: (1) falsely assured investors that it implemented thorough safety protocols; (2) such measures were expected to ultimately contain the spread of COVID-19; and (3) failed to disclose that its ships were following grossly inadequate procedures that would enable the spread of COVID-19 and pose a substantial risk to passengers and crews; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you purchased Royal Caribbean securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
0 Comments
Latest on The PennZone
- Extreme Lead Program Highlights $27 Real Human Traffic Test for Affiliate and Network Marketers
- Longevity Academy Features Gail Humble, MD of KLOTHO SKIN in the Longevity Leaders Project
- Datavalet Named One of Quebec's Best Workplaces™ for 2026
- Phinge Corporation Engages Sheridan Ross PC for Certain Intellectual Property Matters
- Alan Hamilton of Shiver Hamilton Campbell Inducted as a Fellow of the American College of Trial Lawyers
- Slotozilla Hosts Exclusive Halloween Casino Bonuses for 2026
- One Night. One Encounter. A New Season Of Purpose
- "BROOKLYN, BROOKLYN, BROOKLYN" children's book and official YouTube channel launch on October 27th
- Expanding Into Medically Supervised Wellness With Major Apollo Wellness Centers Announcement; Sibannac, Inc. (Stock Symbol: SNNC)
- Nextlink Internet Deploys netElastic to Modernize Its Hybrid Broadband Network
- Dynamic Relaunch as AI Predictive Cybersecurity Company Optimized to Prevent Threats Proactively: Cycurion, Inc. (N A S D A Q: CYCU)
- EMBER™ Unveils the Workplace Identity Score™ (WIS™), the First Standard for Measuring Workplace Impact on Workforce Performance & Business Growth
- With Oil Prices Surging…Sky Quarry's Nevada Refinery Is Back in Action — CEO Highlights a Powerful New Growth Chapter for (N A S D A Q: SKYQ)
- Preston Dermatology & Skin Surgery Center and Dr. Sheel Desai Solomon Win Gold in Raleigh's Best Awards for Second Consecutive Year
- We are Talker Study: 64% of AI Users Have Bought From a Brand AI Introduced, as The Invisible Shortlist Reshapes Brand Discovery
- One in three Americans may have lost track of retirement savings from a previous job
- Political Concerns Drive US Investors to Golden Visas
- The Truth Makers: The Quantum Lie Turns a Presidential Bribery Video Into a Crisis of Reality
- 2027 Health Insurance Open Enrollment
- Ryan J. Murphy Named as 2026 Irish Legal 100 Honoree