Class Action Lawsuit Against Northwest Airlines Corp. Voluntarily Dismissed
A class action lawsuit, filed in Dec. 20, 2005, before Judge Richard J. Holwell in the U.S. District Court for the Southern District of New York, under the Securities Exchange Act of 1934, on behalf of investors who acquired securities of Northwest Airlines Corp. between April 21, 2005 and Sept. 14, 2005 has been voluntarily dismissed without prejudice.
In the lawsuit, shareholders were seeking compensation for losses suffered when the carrier filed for bankruptcy. They alleged that Northwest insiders had sold their stock knowing the airline’s plan to file for bankruptcy.
Filed under Class Action, General Law
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