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
stockinfo@weisslawllp.com
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 stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP