Barrack, Rodos & Bacine Files Securities Class Action Lawsuit Against Carnival Corporation

5/27/2020 - On May 27, 2020, Barrack, Rodos & Bacine filed a securities class action lawsuit on behalf of purchasers of the securities of Carnival Corp. (NYSE:  CCL) (“Carnival”) from January 28, 2020 through May 1, 2020, inclusive (the “Class Period”).  The complaint was filed in the United States District Court for the Southern District of Florida against Carnival; Arnold W. Donald, Carnival's president and chief executive officer; and David Bernstein, the company's chief financial officer.  A copy of the complaint, docketed as Civil Action No. 1:20-cv-22202, is available here.

The complaint alleges that defendants made a series of false and misleading statements and concealed material information relating to the company’s adherence to its health and safety protocols in the wake of the COVID-19 pandemic, Carnival’s role in facilitating the transmission of the virus, and the company’s violations of port-of-call regulations.  Specifically, the complaint that: (1) the company’s medics were reporting increasing events of COVID-19 illness on the company’s ships; (2) Carnival was violating port of call regulations by concealing the amount and severity of COVID-19 infections on board its ships; (3) in responding to the outbreak of COVID-19, Carnival failed to follow the company’s own health and safety protocols developed in the wake of other communicable disease outbreaks; (4) by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world; and (5) 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.

If you suffered a loss arising from your investment in Carnival common stock during the Class Period, you have until July 27, 2020, to file a motion with the Court seeking appointment as lead plaintiff.  Your ability to share in any recovery does not require that you serve as a lead plaintiff.

Please contact Firm attorneys Jeffrey A. Barrack, Esq. by email at jbarrack@barrack.com or by telephone at (215) 963-0600 or [Stephen R. Basser, Esq., by email at sbasserr@barrack.com, or by telephone at (619) 230-0800, to discuss your rights regarding the appointment of lead plaintiff and for additional information about your interest in this class action..