Recent Securities Litigations
Carnival Corporation Common Stock (NYSE: CCL)
According to the Complaint, Carnival Corporation bills itself as the world’s largest leisure travel company and the largest cruise company, carrying nearly 45 percent of global cruise guests. The Company has operations in North America, Australia, Europe and Asia, operating a portfolio of global, regional and national cruise brands that sell tailored cruise products, services and vacation experiences on 104 cruise ships to destinations around the world.
The Complaint alleges that Carnival and several officers of the Company made a series of false and misleading statements and concealed material information relating to the Company’s adherence to its health and safety protocols in the wake of the COVID-19 pandemic, Carnival’s role in facilitating the transmission of the virus, and the Company’s violations of port-of-call regulations. As a result of these false and misleading statements and omissions made throughout the Class Period, Carnival common stock and securities traded at inflated prices.