Investor rights law firm, Rosen Law Firm, has filed a class action lawsuit against Wheels Up Experience Inc. The lawsuit is filed on behalf of purchasers of Wheels Up securities between November 9, 2022 and March 31, 2023, alleging that Wheels Up Experience Inc.'s violated federal securities laws during the "Class Period."
The lawsuit alleges that Wheels Up made materially false and/or misleading statements and/or failed to disclose material weaknesses with internal controls during the Class Period. Additionally, Wheels Up Experience Inc.'s financial statements during the period contained "certain errors" like understating net loss and overstating goodwill. The lawsuit claims that as a result of these actions, Wheels Up Experience Inc.'s will need to restate its previously filed financial statements for certain periods. The defendants' statements about Wheels Up's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis during the Class Period.
Investors who purchased Wheels Up securities during the Class Period and suffered damages may be entitled to compensation. The lawsuit claims that when the true details of Wheels Up's actions came to light, investors were negatively impacted. Wheels Up Experience Inc. now faces legal action for its alleged securities fraud actions.
Investors who wish to join the class action lawsuit against Wheels Up can visit Rosen Law Firm's website or contact Phillip Kim, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com. If an investor wishes to serve as lead plaintiff, they must move the Court no later than June 19, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.
Members of LevelFields received the alert of this event on April 19, 12:15 PM ET
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