Mesa Air Group, Inc. Sued for Securities Fraud; Block & Leviton LLP Encourages Shareholders to Contact the Firm

BOSTON, April 06, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that a class action lawsuit has been filed against Mesa Air Group, Inc. ("Mesa") MESA and certain of its officers for securities fraud.  The lead plaintiff deadline is June 1, 2020.  Investors who purchased Mesa shares should contact Block & Leviton for a free case evaluation.

Mesa operates as the holding company for Mesa Airlines, Inc., which provides regional air carrier services under capacity purchase agreements with American Airlines and United Airlines.  In August 2018, Mesa conducted its initial public offering ("IPO"), in which it sold approximately 11 million shares of common stock at $12.00 each.

The lawsuit, filed in the U.S. District Court for the District of Arizona, alleges that on May 10, 2019, Mesa's Chief Executive Officer revealed that over the last 18 months – including well before the IPO – Mesa had been "hamstrung by the fact that we had expanded a lot . . . maintenance became more difficult in terms of qualified maintenance people."  Then, on August 9, 2019, Mesa's CEO stated that Mesa "did not meet the performance criteria" under its contract with American Airlines, Inc.  Since the IPO, Mesa's stock price has plummeted well below the IPO, closing at $3.11 per share on March 30, 2020, or 74% less than its IPO price.

If you purchased or acquired shares of Mesa common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, or via email at jake@blockesq.com, or at https://shareholder.law/mesa.  Mesa investors who purchased or otherwise acquired shares of Mesa common stock during the Class Period may, no later than June 1, 2020, seek to be appointed as a lead plaintiff representative of the Class.

Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country's financial markets.  The firm represents many of the nation's largest institutional investors as well as individual investors in securities litigation throughout the United States.  The firm's lawyers have recovered billions of dollars for its clients.

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CONTACT:

BLOCK & LEVITON LLP

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Boston, MA 02110

Phone: (617) 398-5600

Email: jake@blockesq.com

SOURCE: Block & Leviton LLP

www.blockesq.com