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Portnoy Law Firm: Carnival Cruise Investors Can Seek Recovery of Losses

GlobeNewswire

Click here to learn more and join potential securities class action.

LOS ANGELES, May 22, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm announces it is investigating potential federal securities claims on behalf of shareholders of Carnival Corporation & Plc (NYSE: CCL; CUK) in connection with reports that the Company has misled investors regarding the lack of safety measures Carnival took in connection with COVID-19.

The Portnoy Law Firm is preparing a securities lawsuit on behalf of Carnival shareholders. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone or text 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or via www.portnoylaw.com.

On May 1, 2020, Bloomberg published an article entitled "House Panel Opens Carnival Probe Over Cruise Ship Outbreaks." The article reported, in part, "[t]he U.S. House Committee on Transportation and Infrastructure . . . opened an inquiry into Carnival Corp.'s handling of the COVID-19 outbreaks that have resulted in more than 1,500 confirmed cases of the novel coronavirus aboard its cruise ships, as well as dozens of passengers and crew deaths." The Bloomberg article also quoted a letter to Carnival from Congressman Peter DeFazio, the House Committee on Transportation and Infrastructure chair, which reportedly stated, in part, "it seems as though Carnival Corporation and its portfolio of nine cruise lines, which represents 109 cruise ships, is still trying to sell this cruise line fantasy and ignoring the public health threat."

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On this news, Carnival's shares fell $1.97 per share, or over 12%, to close at $13.93 per share on May 1, 2020, thereby damaging investors.

The Portnoy Law Firm represents investors on a contingency basis in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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