Friday , September 24 2021

Shareholders sued Ryanair and Michael O & Leary in the US for price manipulation

Michael O & Leary

The head of low-cost Irish airline Ryanair was sued in the US along with his company.

(Photo: AFP)

New YorkCheap airlines Ireland, Ryanair and his old boss Michael O & # 39; Leary must answer in the US for price manipulation in court. A shareholder filed a complaint in New York on Tuesday. He accused the biggest European airlines of surpassing relations with staff and thus deceived investors.

The truth was revealed when, under pressure from the workforce, the company first recognized trade unions last year and was made prisoner this summer. Ryanair was initially unable to reach an opinion.

"Not recognized by investors, the company's profits in the past are based on the foundation of closed and non-lasting employee exploitation and employee turnover," said a complaint filed by Alabama's pension fund.

The decline in Ryanair shares is a direct result of this fraud detected. Ryanair has lowered his forecast on October 1 and confirmed this with a labor dispute. The stock price then dropped significantly. O & # 39; Leary, who runs the company since 1994, wants to resolve the dispute before Christmas.

Source link