NEW YORK, Feb. 28, 2020 /PRNewswire/ -- WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, California and Georgia, announces an investigation of Southwest Airlines Co. (NYSE: LUV) ("Southwest," or the "Company").
If you own LUV shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/southwest-airlines-co/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws by Southwest's Board of Directors. On February 11, 2020, the U.S. Department of Transportation's Office of Inspector General issued a report detailing serious concerns with the Company's safety operations. Specifically, the OIG Report found that: Southwest flies aircraft with serious safety concerns, including incorrect and non-compliant weight balance calculations; the Company's process for ensuring that its aircraft adhere to U.S. airworthiness standards contains serious gaps; and the Company operated more than 150,000 flights on 24 aircraft with confirmed safety deficiencies, putting as many as 17.2 million passengers at risk.
Additionally, certain FAA officials expressed concern over Southwest's safety culture, noting that Southwest's management is very skilled in using "diversion, distraction, and power" with FAA inspectors so that the Company gets what it wants, even bypassing the local oversight office when there is a disagreement and going directly to FAA Headquarters.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP
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