SAN DIEGO, May 02, 2023 (GLOBE NEWSWIRE) —

Robbins LLP Reminds investors that a shareholder has filed a class action lawsuit on behalf of all individuals and entities associated with Wheels Up Experience Inc. HIGH Securities common stock between November 9, 2022 and March 31, 2023 for violations of the Securities Exchange Act of 1934. Wheels Up Experience Inc. provides private air travel services in the United States.

What is it about in this case: Wheels Up Experience Inc. (UP) is required to restate its previously filed financial statements for certain periods

According to the lawsuit, the defendants made materially false and/or misleading statements and/or failed to disclose the following: (1) Wheels Up failed to address material vulnerabilities with internal controls; (2) Wheels Up’s financial statements from September 30, 2022 to date contained “certain errors” such as understatement of net loss and overstatement of goodwill; (3) as a result, Wheels Up would have to restate its previously filed financial statements for certain periods; and (4) as a result, the statements made by defendants regarding the business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. The lawsuit continues that investors suffered damage when the truth came out.

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against Wheels Up. Shareholders who wish to be lead plaintiffs in the class action must file their filings by June 19, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. If you don’t do anything, you can remain absent. Click for more information Here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

Contact us to find out more:

Aaron Dumas Jr.
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form