On May 27, 2020, a similar class action lawsuit was filed against Carnival alleging the company misled investors about its health and safety protocols relating to COVID-19, as well as its role in facilitating the transmission of the virus.
While Carnival was one of the first companies in the leisure, travel and hospitality industries to face securities class actions, many other firms in this industry — particularly those that experienced severe price drops — are likely to face similar lawsuits with claims of inadequate, or absence of timely, disclosures.
In Law360, economic experts Atanu Saha, Ph.D. and Yong Xu, Ph.D. share valuable insights into how companies can best defend their actions with a data-driven approach. Using a real-world event study and qualitative analysis of the Carnival matter as the example, Drs. Saha and Xu provide a trial-ready, objective approach for examining the veracity of plaintiff allegations in these matters.
