Mesa Air Group, Inc.
| Company Name | Mesa Air Group, Inc. |
| Stock Symbol | MESA |
| Lead Plaintiff Motion Deadline | June 01, 2020 |
On August 9, 2018, Mesa conducted its initial public offering (“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.
The Company’s shares have consistently traded below the IPO price, closing as low as $2.70 per share on March 19, 2020.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that Mesa’s operational performance was poor and below industry standards; (2) that Mesa had a shortage of qualified mechanics and maintenance personnel; (3) that Mesa had an inadequate number of spare aircraft and parts; (4) that Mesa did not have a strong track record of reliable performance; (5) that then-existing “risks” had already materialized; (6) that Mesa knew of undisclosed adverse trends and uncertainties at the time of the IPO; and (7) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Submit Your Information
If you suffered a loss on your Mesa Air Group, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.