Failure to Cruise Past the Pleading Requirements in the Norwegian Cruise Lines Securities Class Action
By EsqSocial Corporation 04/05/21
On April 10, 2021, the United States District Court for the Southern District of Florida dismissed a securities class action complaint against Norwegian Cruise Lines (“NCL”) relating to the company’s disclosures made as the coronavirus pandemic was starting to unfold in the United States. In Douglas v. Norwegian Cruise Lines, et al., the court found the plaintiff failed to plead actionable misstatements or omissions and scienter for a claim of securities fraud under Section 10(b) of the...
By: Proskauer - Corporate Defense and Disputes