NCLH Stock: Berger Montague Investigates Securities Fraud Class Action Claims Against Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH); Lead Plaintiff Deadline is May 11, 2020
PHILADELPHIA, March 24, 2020 – Berger Montague is investigating securities fraud claims against Norwegian Cruise Line Holdings Ltd. (“Norwegian” or the “Company”) on behalf of all purchasers of Norwegian common stock (NASDAQ: NCLH) between February 20, 2020 and March 12, 2020 (the “Class Period”).
If you purchased Norwegian shares, have information, would like to discuss this investigation, or have any questions concerning your rights or interests, please contact our attorneys Benjamin Galdston, Esq. at (619) 489-0300 or Andrew Abramowitz, Esq. at (215) 875-3015, or fill out the contact form on this page.
In a filing on February 20, 2020, Norwegian represented that it had taken “several preventative measures to reduce potential exposure and transmission of COVID-19 and to protect the health, safety, security and well-being of its guests and crew,” and that its measures went “above and beyond standard operating procedures.”
According to the complaint, the Company’s statements were shown to be false when two articles published on March 11, 2020 and March 12, 2020, in the Miami New Times and Washington Post, respectively, reported that leaked emails from a Norwegian employee showed how Company managers encouraged the sales staff to lie to customers about COVID-19 to protect the Company’s bookings.
The articles detail specific misinformation that was deliberately directed to potential customers, including a script with reassuring talking points, such as: “The only thing you need to worry about for your cruise is do you have enough sunscreen?” and the coronavirus “cannot live in the amazingly warm and tropical temperatures that your cruise will be sailing to.” These articles documented how management urged the sales staff to “spread falsehoods about coronavirus” by, among other things, telling customers that “coronavirus in humans is an overhyped pandemic scare” that “will not affect you.”
When these articles were published, Norwegian shares fell $5.47 per share, or 26%, on March 11, 2020, and an additional 35%, or $5.38 per share, on March 12, 2020, for a total two-day drop in price from $20.50 to $9.65.
If you purchased Norwegian common stock during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 11, 2020. You do not need to be a lead plaintiff to share in any potential class recovery.
Whistleblowers: Persons with non-public information regarding Norwegian should consider their options to help Berger Montague’s investigation.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.