Among the industries hit hardest at the outset of the coronavirus outbreak last year was the cruise ship business. As these companies were forced to cease operations, revenues plunged. Several of the companies were hit with securities class action lawsuits as well, though, as discussed below, these lawsuits have not fared well. On May 28, 2021, in the latest ruling in a COVID-19-related securities suit against a cruise ship line, the federal judge in the securities suit pending against Carnival Corp. granted the defendants motion to dismiss. The court’s ruling evinces a great deal of skepticism of the plaintiffs’ case.
Continue Reading Another COVID-19-Securities Suit Against Cruise Line Dismissed