NYSE
VLRS

Volaris Aviation Holding Company

Shareholder Securities Fraud Litigation

Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Volaris Aviation Holding Company (NYSE: VLRS)

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the American Depository Shares (“ADSs”) of Volaris Aviation Holding Company (“Volaris” or the “Company”) (NYSE: VLRS) pursuant and/or traceable to its initial public offering (“IPO”) on or about September 18, 2013 (collectively, the “Class Period”), alleging violations of the Securities Act of 1933 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Volaris in and/or traceable to the Company’s IPO and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the Registration Statement issued in connection with the IPO negligently contained financial statements that were presented in violation of applicable accounting standards and the Company’s publicly disclosed accounting policies.  As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, the Company’s Registration Statement failed to disclose certain material events known to defendants that rendered the Registration Statement materially false and misleading.  According to the suit, the misstatements and omissions include: (1) the financial effects ensuing from a change in the Company’s airline reservation system; and (2) an expansion of competition in the Tijuana and Guadalajara, Mexico markets, which was having a material adverse effect on the Company’s revenues and profit margins at the time of the IPO.

If you wish to serve as lead plaintiff, you must move the Court no later than April 27, 2014.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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