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The Law Offices of Frank R. Cruz Announces Investigation of Southwest Airlines Co. (LUV) on Behalf of Investors

PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.
January 4, 2023 GMT

LOS ANGELES--(BUSINESS WIRE)--Jan 4, 2023--

The Law Offices of Frank R. Cruz announces an investigation of Southwest Airlines Co. (“Southwest” or the “Company”) (NYSE: LUV ) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

On December 22, 2022, Southwest began to cancel flights in the aftermath of a winter storm. In the following days, the airline cancelled 15,004 flights – more than half of its typical flight schedule – and by December 28, about 87% of all cancelled flights in the US were from Southwest alone. The Transport Workers Union president stated that she and other labor leaders had repeatedly told management that Southwest’s scheduling technology is not good enough, with a “complicated” model for assigning flights and an “antiquated internal system” used for managing and staffing trips.

On this news, Southwest’s stock price fell $2.15, or 10.8%, over two consecutive trading days to close at $32.19 per share on December 28, 2022, thereby injuring investors.

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If you purchased Southwest 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20230104005978/en/

CONTACT: The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

fcruz@frankcruzlaw.com

www.frankcruzlaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL

SOURCE: The Law Offices of Frank R. Cruz

Copyright Business Wire 2023.

PUB: 01/04/2023 05:54 PM/DISC: 01/04/2023 05:54 PM

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