Trending...
- Ventura Chamber of Commerce Names Cumulus Media VP Sommer Frisk "Shining Star of the Year"
- VCCCD Board Elects Leadership for New Year
- Governor Newsom announces $47 million in grants to help prevent substance use among California youth, including supports for struggling young men and boys
LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Royal Caribbean Cruises Ltd. ("Royal Caribbean" or the "Company") (NYSE: RCL) securities between February 4, 2020 and March 17, 2020, inclusive (the "Class Period"). Royal Caribbean investors have until December 7, 2020 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On February 25, 2020, Royal Caribbean disclosed that the COVID-19 pandemic would adversely impact its earnings by $0.90 per share.
On this news, the Company's share price fell $12.55, or 14%, to close at $77.00 per share on February 27, 2020.
On March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the continued spread of COVID-19.
More on The Californer
On this news, the Company's share price fell $7.30, or 14%, to close at $44.37 per share on March 11, 2020.
On March 11, 2020, Royal Caribbean's largest competitor, Carnival Corporation, announced a 60-day suspension of all operations, which prompted concerns that Royal Caribbean's safety procedures were not as "aggressive" as claimed. At the same time, Royal Caribbean also cancelled two cruises.
On this news, the Company's share price fell $14.10, or 32%, to close at $30.27 per share on March 12, 2020.
On March 18, 2020, Stifel cut its one-year price target on Royal Caribbean from $161 to $40.
On this news, the Company's share price fell $5.33, or 19% to close at $22.33 per share on March 18, 2020.
The complaint filed in this class action alleges that throughout the Class Period, the Defendants made false and/or misleading statements and failed to disclose material adverse facts about Royal Caribbean's decrease in bookings outside China and its faulty policies and protocols to prevent the spread of COVID-19 on its ships. Specifically, regarding global bookings, Royal Caribbean made statements that: (1) misled investors to believe that any issue related to COVID-19 was relatively inconsequential; (2) falsely assured investors that bookings outside China were robust with no signs of a slowdown; and (3) failed to disclose that Royal Caribbean was undergoing material declines in bookings worldwide due to client concerns over COVID-19.
More on The Californer
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Royal Caribbean securities during the Class Period, you may move the Court no later than December 7, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Royal Caribbean 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.
If you are a shareholder who suffered a loss, click here to participate.
On February 25, 2020, Royal Caribbean disclosed that the COVID-19 pandemic would adversely impact its earnings by $0.90 per share.
On this news, the Company's share price fell $12.55, or 14%, to close at $77.00 per share on February 27, 2020.
On March 10, 2020, Royal Caribbean withdrew its 2020 financial guidance, increased its revolving credit facility by $550 million, and announced that it would take cost-cutting actions due to the continued spread of COVID-19.
More on The Californer
- California: Governor Newsom proclaims state of emergency to support response in multiple counties due to late December storms
- eJoule Inc Participates in Silicon Dragon CES 2026
- City of Long Beach Issues Rain Advisory Due to Recent Showers
- PODS Local Helps Residents Meet Their 2026 New Year's Resolution
- HBZBZL Unveils "Intelligent Ecosystem" Strategy: Integrating AI Analytics with Web3 Incubation
On this news, the Company's share price fell $7.30, or 14%, to close at $44.37 per share on March 11, 2020.
On March 11, 2020, Royal Caribbean's largest competitor, Carnival Corporation, announced a 60-day suspension of all operations, which prompted concerns that Royal Caribbean's safety procedures were not as "aggressive" as claimed. At the same time, Royal Caribbean also cancelled two cruises.
On this news, the Company's share price fell $14.10, or 32%, to close at $30.27 per share on March 12, 2020.
On March 18, 2020, Stifel cut its one-year price target on Royal Caribbean from $161 to $40.
On this news, the Company's share price fell $5.33, or 19% to close at $22.33 per share on March 18, 2020.
The complaint filed in this class action alleges that throughout the Class Period, the Defendants made false and/or misleading statements and failed to disclose material adverse facts about Royal Caribbean's decrease in bookings outside China and its faulty policies and protocols to prevent the spread of COVID-19 on its ships. Specifically, regarding global bookings, Royal Caribbean made statements that: (1) misled investors to believe that any issue related to COVID-19 was relatively inconsequential; (2) falsely assured investors that bookings outside China were robust with no signs of a slowdown; and (3) failed to disclose that Royal Caribbean was undergoing material declines in bookings worldwide due to client concerns over COVID-19.
More on The Californer
- Kaltra Launches Next-Gen MCHEdesign With Full Integration Into MCHEselect — Instant Simulation & Seamless Microchannel Coil Workflow
- Nexar Bit Exchange Enhances Platform Infrastructure
- Jon Robert Quinn Builds Awepra, AwepraAI, and AwepraQ to Redefine the Future Beyond Social Media
- A Well-Fed World, Youth Climate Save and PAN International Launch PHRESH: A Global Directory of Plant-Based Hunger Relief Organizations
- 4-Hour Work Day: Jon Robert Quinn Challenges Hustle Culture and Redefines Entrepreneurial Success
Follow us for updates on Twitter: twitter.com/FRC_LAW.
If you purchased Royal Caribbean securities during the Class Period, you may move the Court no later than December 7, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Royal Caribbean 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.
Filed Under: Business
0 Comments
Latest on The Californer
- Governor Newsom mobilizes state resources as California braces for winter storm
- California: Governor Newsom announces judicial appointments 12.22.2025
- Long Beach Mayor Rex Richardson Hosts State of the City Address January 13, 2026
- Price Improvement on Luxurious Lāna'i Townhome with Stunning Ocean Views
- Nextvisit Co-Founder Ryan Yannelli Identifies Six Critical Factors for Behavioral Health Providers Evaluating AI Scribes in 2026
- BrassTranscripts Introduces Flat-Rate Pricing with Up to 67% Savings on Long-Form Audio
- Long Beach: City Achieves Housing Milestone: Over 5,000 New Homes Approved
- CredHub and Real Property Management Join Forces to Empower Franchise Owners with Rental Payment Credit Reporting Solutions
- Dodd, Mead & Company Revived Under Current Trademark Ownership
- California: Governor Newsom announces $50,000 reward payout in Solano murder, rewards for other cold cases in Alameda and San Diego counties
- Leimert Park Announces Weeklong Kwanzaa Festival & Kwanzaa Parade Celebrating Black History, Culture, and Community
- Start Learning Window Tinting Today – Online, On Your Schedule
- A New Era of Accessibility for Impact & Influence Magazine Covers
- California steps up to protect communities amid continued antisemitic actions worldwide
- Homes & Hope, NPHS, and CEDC Selected for Two State Surplus Land Sites in Fontana and San Bernardino
- Southland Symphony Orchestra Presents SSO Opera! Mozart's The Magic Flute
- THINKWARE Announces Christmas & New Year Deals on Top Dash Cams
- City of Long Beach Offers Tips for a Safe and Joyful Holiday Season
- Geyser Data Named Runner-Up in the Cloud Trailblazers Category
- Renowned Alternative Medicine Specialist Dr. Sebi and His African Bio Mineral Balance Therapy Are the Focus of New Book