May 28, 2021 - The court granted in part and denied in part the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

January 18, 2021 - A motion to dismiss the corrected consolidated complaint was filed.

December 17, 2020 - A corrected consolidated complaint was filed.

December 15, 2020 - A consolidated complaint was filed.

May 27, 2020 - An investor in shares of Carnival Corporation & Plc (NYSE: CCL) filed a lawsuit in the U.S. District Court for the Southern District of Florida over alleged violations of Federal Securities Laws by Carnival Corporation & Plc in connection with certain allegedly false and misleading statements made between January 28, 2020, and May 1, 2020.

Miami, FL based Carnival Corporation & plc operates as a leisure travel company. Carnival Corporation & Plc reported that its Total Revenue rose from $18.88 billion for the 12 months period that ended on November 30, 2018 to over $20.82 billion for the 12 months period that ended on November 30, 2019, and that Net Income over those respective time periods declined from over $3.15 billion to $2.99 billion.

On April 16, 2020, when Carnival Corporation & Plc still had at sea two (2) of its cruise ships, an article was published titled “Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going.” In that article, it was revealed that Carnival Corporation & Plc may have failed to adequately protect passengers from COVID-19 on a series of cruise voyages, and indeed continued to operate new cruise departures despite its knowledge that the threat posed by COVID-19 had materialized on its ships and was likely to proliferate further.

Then, on May 1, 2020, an article was published entitled “House Panel Opens Carnival Probe Over Cruise Ship Outbreaks.” The article reported, in part, that “[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 article quoted a letter to the Company from the House committee chair, Peter Fazio (D. Or.), which reportedly stated, in part, that “’ We would hope that the reality of the Covid-19 pandemic will place a renewed emphasis on public health and passenger safety, but frankly that has not been seen up to this point. . . . 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.’” Shares of Carnival Corporation & Plc (NYSE: CCL) declined on May 4, 2020, to as low as $12.75 per share.

According to the complaint the plaintiff alleges on behalf of purchasers of Carnival Corporation & Plc (NYSE: CCL) common shares between January 28, 2020, and May 1, 2020, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between January 28, 2020, and May 1, 2020, the Defendants failed to disclose to investors that the Company’s medics reported increasing events of COVID-19 illness on the Company’s ships, that Carnival had violated port of call regulations by concealing the amount and severity of COVID-19 infections onboard its ships, that in responding to the outbreak of COVID-19, Carnival failed to follow the Company’s health and safety protocols developed in the wake of other communicable disease outbreaks, that by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world, and that as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.