{"id":749910,"date":"2023-04-20T17:50:21","date_gmt":"2023-04-20T21:50:21","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-wheels-up-experience-inc-up\/"},"modified":"2023-04-20T17:50:21","modified_gmt":"2023-04-20T21:50:21","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-wheels-up-experience-inc-up","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-wheels-up-experience-inc-up\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Wheels Up Experience Inc. (UP)"},"content":{"rendered":"
\n

NEW YORK, April 20, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased the securities of Wheels Up Experience Inc. (\u201cWheels Up\u201d or the \u201cCompany\u201d) (NYSE: UP) between November 9, 2022 and March 31, 2023, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n

The Complaint alleges that Defendants made materially false and\/or misleading statements and\/or failed to disclose that: (1) Wheels Up failed to address any material weaknesses with internal controls; (2) Wheels Up\u2019s financial statements from September 30, 2022 to the present included \u201ccertain errors\u201d such as understating net loss and overstating goodwill; (3) as a result, Wheels Up would need to restate its previously filed financial statements for certain periods; and (4) as a result, defendants\u2019 statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times. The lawsuit continues that when the truth was revealed, investors suffered damages.<\/p>\n

Investors who purchased or otherwise acquired shares of Wheels Up should contact the Firm prior to the June 20, 2023 <\/em><\/strong>lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.\u00a0 If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, April 20, 2023 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased the securities of Wheels Up Experience Inc. (\u201cWheels Up\u201d or the \u201cCompany\u201d) (NYSE: UP) between November 9, 2022 and March 31, 2023, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made materially false and\/or misleading statements and\/or failed to disclose that: (1) Wheels Up failed to address any material weaknesses with internal controls; (2) Wheels Up\u2019s financial statements from September 30, 2022 to the present included \u201ccertain errors\u201d such as understating net loss … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Wheels Up Experience Inc. (UP)”<\/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-749910","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Wheels Up Experience Inc. 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