NEW YORK, NY / ACCESSWIRE / June 15, 2023 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Wheels Up Experience Inc. ("Wheels Up" or the "Company") (NYSE:UP) and certain of its officers, on behalf of persons and entities that purchased or otherwise acquired Wheels Up securities November 9, 2022 and March 31, 2023, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/up.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Wheels Up failed to address any material weaknesses with internal controls; (2) Wheels Up's financial statements from September 30, 2022 to the present included "certain errors" such as understating net loss and overstating goodwill; (3) as a result, Wheels Up would need to restate its previously filed financial statements for certain periods; and (4) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: www.bgandg.com/up or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Wheels Up, you have until June 19, 2023, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC