Investor Alert: Kaplan Fox Announces Investigation of Mesa Air Group - Stock Price has Plummeted Since IPO

NEW YORK, May 26, 2020 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Mesa Air Group, Inc. (“Mesa Air” or the “Company”) (MESA). A class action securities lawsuit has been filed on behalf of investors who purchased Mesa Air securities in or traceable to the Company’s initial public offering (“IPO”).

On or around August 9, 2018, Mesa Air conducted its initial public offering ("IPO"), selling approximately 9.63 million shares of common stock priced at $12.00 per share.

On February 5, 2019, during an earnings call for the first quarter of fiscal 2019 for the period ending December 31, 2018, the Company’s Chief Executive Officer, Jonathan Ornstein (“Ornstein”) stated that “[a]bout a year ago, American talked [to] us about raising our performance levels.”

Then, on May 10, 2019, CEO Ornstein further disclosed that the Company knew that in the last 18 months Mesa Air was “hamstrung” by a number of factors, including needing more pilots, pilot training and qualified maintenance people.

Then, on August 9, 2019, CEO Ornstein disclosed that Mesa Air had found it "very difficult to meet the performance criteria" under its contract with American Airlines and had ultimately failed to do so.

Since the IPO, Mesa Air's stock price has traded as low as $2.05 per share - a decline of more than 80% from the Company's offering price.

If you purchased Mesa Air securities, you may move the court no later than June 1, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(646) 315-9003
Fax: (212) 687-7714
E-mail: dhall@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com