We are investigating Southwest Airlines Co. (LUV) (“Southwest” or the “Company”) for potential violations of the federal securities laws.
On January 30, 2020, the Wall Street Journal published an article entitled “Southwest Flew Millions on Jets With Unconfirmed Maintenance Records, Government Report Says.” Citing “a government report to be released in coming days,” the article reported, among other things, that “Southwest pilots flew more than 17 million passengers on planes with unconfirmed maintenance records over roughly two years, and in 2019 smashed both wingtips of a jet on a runway while repeatedly trying to land amid gale-force winds” and that “FAA managers in the Dallas-area office that supervises Southwest routinely allowed the carrier ‘to fly aircraft with unresolved safety concerns.’” On this news, Southwest’s stock price fell $1.06 per share, or 1.86%, to close at $55.83 per share on January 30, 2020.