Shareholder Claims In Norwegian Coronavirus Stock-Drop Suit Dismissed

Mealey's (April 14, 2021, 2:09 PM EDT) -- MIAMI — The lead plaintiff in a securities class action lawsuit against cruise line operator Norwegian Cruise Line Holdings Inc. and two of its senior executives has failed to sufficiently plead and material misrepresentations or omissions or scienter in alleging that the defendants concealed the company’s allegedly deceptive sales tactics that artificially inflated the company’s stock price in the wake of the coronavirus pandemic in violation of federal securities laws, a federal judge in Florida ruled April 12 in granting the defendants’ motion to dismiss....