{"id":393637,"date":"2020-12-04T11:33:19","date_gmt":"2020-12-04T16:33:19","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=393637"},"modified":"2020-12-04T11:33:19","modified_gmt":"2020-12-04T16:33:19","slug":"the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-royal-caribbean-cruises-ltd-rcl","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-royal-caribbean-cruises-ltd-rcl\/","title":{"rendered":"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. (RCL)"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. (RCL)<\/b><\/p>\n

Shareholders with losses exceeding $150,000 are encouraged to contact the firm<\/i><\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> reminds investors of the upcoming December 7, 2020 <\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Royal Caribbean Cruises Ltd. (\u201cRoyal Caribbean\u201d or the \u201cCompany\u201d) (NYSE: RCL<\/a>) securities between February 4, 2020 and March 17, 2020<\/b>, inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn February 25, 2020, Royal Caribbean disclosed that the COVID-19 pandemic would adversely impact its earnings by $0.90 per share.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $12.55, or 14%, to close at $77.00 per share on February 27, 2020.\n<\/p>\n

\nOn 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.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $7.30, or 14%, to close at $44.37 per share on March 11, 2020.\n<\/p>\n

\nOn March 11, 2020, Royal Caribbean\u2019s largest competitor, Carnival Corporation, announced a 60-day suspension of all operations, which prompted concerns that Royal Caribbean\u2019s safety procedures were not as \u201caggressive\u201d as claimed. At the same time, Royal Caribbean also cancelled two cruises.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $14.10, or 32%, to close at $30.27 per share on March 12, 2020.\n<\/p>\n

\nOn March 18, 2020, Stifel cut its one-year price target on Royal Caribbean from $161 to $40.\n<\/p>\n

\nOn this news, the Company\u2019s share price fell $5.33, or 19% to close at $22.33 per share on March 18, 2020.\n<\/p>\n

\nThe 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\u2019s 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.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Royal Caribbean securities during the Class Period, you may move the Court no later than December 7, 2020 <\/b>to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201204005018\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. (RCL) Shareholders with losses exceeding $150,000 are encouraged to contact the firm LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming December 7, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Royal Caribbean Cruises Ltd. (\u201cRoyal Caribbean\u201d or the \u201cCompany\u201d) (NYSE: RCL) securities between February 4, 2020 and March 17, 2020, inclusive (the \u201cClass Period\u201d). 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 … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. (RCL)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-393637","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. 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(RCL) Shareholders with losses exceeding $150,000 are encouraged to contact the firm LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming December 7, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Royal Caribbean Cruises Ltd. (\u201cRoyal Caribbean\u201d or the \u201cCompany\u201d) (NYSE: RCL) securities between February 4, 2020 and March 17, 2020, inclusive (the \u201cClass Period\u201d). 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 … Continue reading "The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Royal Caribbean Cruises Ltd. 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