August 17, 2020 - An amended complaint was filed.

April 10, 2020 - An investor in shares of Mesa Air Group, Inc. (NASDAQ: MESA) filed a lawsuit in the U.S. District Court for the District of Arizona over alleged violations of Federal Securities Laws by Mesa Air Group, Inc. in connection with certain allegedly false and misleading statements made in connection with Mesa’s August 2018 initial public stock offering (the IPO ).

Phoenix, AZ based Mesa Air Group, Inc. operates as the holding company for Mesa Airlines, Inc., which provides regional air carrier services under capacity purchase agreements with the American Airlines and the United Airlines.

On August 9, 2018, Mesa Air Group, Inc. conducted its initial public offering ( IPO ), selling approximately 11 million shares of common stock for $12.00 per share. Then on August 8, 2019, Mesa Air Group, Inc. announced its third quarter 2019 financial results, reporting increased maintenance expenses of $54 million. Then on August 9, 2019, Mesa Air Group, Inc.'s CEO stated that the company did not meet the performance criteria under its contract with American Airlines, Inc. and that it would be very difficult to meet the performance criteria.

On December 11, 2019, Mesa Air Group, Inc reports its fourth quarter and full year fiscal 2019. Mesa Air Group, Inc. reported that its Total Revenue rose from $681.59 million for the 12 months period that ended on September 30, 2018, to $723.35 million for the 12 months period that ended on September 30, 2019, and that its Net Income increased over those respective time periods from $33.25 million to $47.58 million.

Shares of Mesa Air Group, Inc. (NASDAQ: MESA) declined to as low as $2.05 per share on April 3, 2020.

According to the complaint the plaintiff alleges on behalf of purchasers of Mesa Air Group, Inc. (NASDAQ: MESA) common shares, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Registration Statement that was issued in connection with Mesa’s August 2018 IPO featured false and/or misleading statements and/or failed to disclose that Mesa Air Group’s operational performance was poor and below industry standards, that Mesa Air Group had a shortage of qualified mechanics and maintenance personnel, that Mesa Air Group had an inadequate number of spare aircraft and parts, that Mesa Air Group did not have a strong track record of reliable performance, that then-existing risks had already materialized, that Mesa Air Group knew of undisclosed adverse trends and uncertainties at the time of the IPO, and that as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.