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RYAAY.US

Ryanair $5M Investor Unionization Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court
1:18-cv-10330-JPO
Case number
30 May 2017
Class period Start
28 Sept 2018
Class period End
17 Oct 2023
Claim deadline
Ryanair agreed to a $5 million settlement to address allegations of false claims regarding unionization.

Investors sought approval from a New York federal judge, asserting that the Irish budget airline and its CEO artificially inflated share prices by falsely promising a union-free environment. The share prices dropped when Ryanair workers eventually unionized.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Ryanair’s business and operations as a result of its aggressive anti-employee practices and opposition to employee collectivization efforts. Specifically, the Complaint alleges that Defendants misrepresented and/or failed to disclose, among other things, that Ryanair’s labor relations had deteriorated in 2017 and 2018. As a result, the Company was experiencing increased employee turnover and was threatened with massive strikes and other disruptions across its operations, and its historical operating model and profit growth were not sustainable.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Payout per Share
0.13
Filing date
06 November 2018
Plaintiffs
City of Birmingham Firemen’s and Policemen’s Supplemental Pension System, City of Birmingham Retirement and Relief System
Attorneys
Robbins Geller Rudman & Dowd LLP
Defendants
Michael O'Leary
Judge
Hon. J. Paul Oetken
Administrator
Gilardi & Co LLC
Court hearing date
20 October 2023
Exclusion deadline
29 September 2023
Objection deadline
29 September 2023
Hearing deadline
29 September 2023
Trades matching type
FIFO
+$5,000,000
Total Settlement Amount
Created by Stan Vick, Scout

Ryanair Holdings PLC ADR

Ryanair Holdings plc, together with its subsidiaries, provides scheduled-passenger airline services in Ireland, the United Kingdom, Italy, Spain, and internationally. It is also involved in the pro...

    Ticker
    RYAAY.US
    ISIN
    IE00BYTBXV33
    Sector
    Industrials
    Industry
    Airlines
    Country
    USA
    Address
    Dublin Office, Swords, Ireland, K67 NY94