Gilman Law LLP Announces a Securities Fraud Class Action Lawsuit Has Been Filed Against Royal Caribbean Cruises Ltd. on Behalf of Stock Owners/Investors and Urges Investors to Inquire as to the Class Action Lawsuit Prior to the October 3, 2011 Lead Plaintiff Deadline
BOSTON, MA – Gilman Law, LLP announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of Florida on behalf of the purchasers of Royal Caribbean Cruises Ltd. (“Royal Caribbean” or the “Company”) (NYSE: RCL) who purchased shares between January 27, 2011 and July 28, 2011, inclusive (the “Class Period”).
The Complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s business and prospects. Specifically, Royal Caribbean misrepresented and/or failed to disclose the following adverse facts: (1) the Company improperly accounted interest expenses related to the amortization of certain financing fees related to certain of the Company’s export credit agency guaranteed loans; (2) the Company lacked adequate internal and financial controls; and (3) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.
As a result of Defendants’ misleading statements, shares of DNDN traded at artificially high price levels. Then on July 28, 2011, the Company admitted that it had overstated the earnings and that it was performing below expectations which resulted in the revision of the Company’s past financial statements. Consequently, on this news, the Company’s shares declined $4.50 or more than 12.5% and closed at $31.26 the following day.
If you purchased or otherwise acquired RCL shares during the Class Period, between January 27, 2011 and July 28, 2011, and either lost money on the transaction or still hold the shares, you may contact Gilman and Pastor by no later than October 3, 2011 to discuss your rights, including as to the recovery of your losses, or to obtain additional information, at www.investment-losses.com, by email at email@example.com or by calling toll-free (888)252-0048.
Gilman Law, LLP is one of the country’s premier national law firms that represents institutional and individual investors in class actions, complex securities and corporate governance litigation. The firm has been a champion of investor rights for over 30 years and has been recognized for its reputation for excellence by the courts. You may retain Gilman and Pastor without financial obligation or cost to you, or you may retain other counsel of your choice.
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