CASES
Royal Caribbean Cruises Ltd.
Class Period: Jan 27, 2011 to Jul 28, 2011
Lead Plaintiff Deadline: Oct 3, 2011 + Deadline passed
Summary of Case:
A securities class action has been filed against Royal Caribbean Cruises Ltd. ("Royal Caribbean" or the "Company") on behalf of purchasers of the securities of Royal Caribbean between January 27, 2011 to July 28, 2011. This case has been filed in the USDC - Florida (Southern).
The Complaint alleges that Royal Caribbean and certain of its officers and directors made a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934. The Complaint alleges that on July 28, 2011, Royal Caribbean revealed for the first time that it was performing below expectations and that errors in previous accounting treatment of interest expense relating to its amortization of certain financing fees, had resulted in the revision of the Company's past financial statements. Besides announcing second quarter earnings per share of 47 cents that were revised to 43 cents because of the interest expense treatment, Royal Caribbean announced that 2011 earnings would be reduced by 20 cents, within a range of $2.85 to $2.95. Subsequently, shares of Royal Caribbean fell 13% on July 28, 2011 to below $31 per share on high volume of over 11.32 million shares.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.