Southwest Airlines Co. purports to operate a major passenger airline that provides scheduled air transportation in the United States and near-international markets.

An underlying federal securities fraud class action complaint alleges that throughout the Class Period (February 4, 2020 through March 14, 2023), Southwest Airlines Co. (NYSE: LUV), via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Southwest Airlines continuously downplayed or ignored the serious issues with the technology it used to schedule flights and crews, and how it stood to be affected worse than other airlines in the event of inclement weather; (2) Southwest Airlines did not discuss how it's unique point-to-point service and aggressive flight schedule could leave it prone in the event of inclement weather; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On December 4, 2024, the United States District Court for the Southern District of Texas denied the Southwest Airlines Defendants’ motion to dismiss the securities fraud class action complaint.

Current Southwest Airlines shareholders who have continuously held Southwest Airlines shares since prior to February 4, 2020, can seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter at no cost to you, you are encouraged to contact Joshua H. Grabar at [email protected] or Mia R. Heller at [email protected], or call 267-507-6085.