PRLog - Aug. 9, 2011 - SAN DIEGO -- An investor in shares of Royal Caribbean Cruises Ltd. (NYSE: RCL) filed a lawsuit in the United States District Court for the Southern District of Florida against Royal Caribbean Cruises over alleged Violations of Federal Securities Laws.
If you purchased shares of Royal Caribbean Cruises Ltd. (NYSE: RCL), between January 27, 2011 and July 28, 201, you have certain options and there are strict and short deadlines running. Deadline: October 3, 2011. NYSE RCL stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of the securities of Royal Caribbean Cruises Ltd. (NYSE:RCL) between January 27, 2011 and July 28, 2011, that Royal Caribbean and certain of its officers and directors violated the Securities Exchange Act of 1934 by making a series of materially false and misleading statements related to its business and operations.
Royal Caribbean Cruises Ltd. was able to increase its annual Total Revenue from $6.14billion in 2007, respectively $5.88billion in 2009 to $6.75billion in 2010 and its Net Income rose from $162.42million in 2009 to $547.47million in 2010.
Shares of Royal Caribbean Cruises Ltd. (Public, NYSE:RCL) rose from as low as $5.94 in February 2009 to as high as $49.96 per share in January 2011.
However, on July 27, 2011, Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) made a series of financial announcements. Among other things, Royal Caribbean Cruises Ltd. announced that its management identified an error in the previous accounting treatment of interest expense relating to its amortization of certain financing fees and has revised its past financial statements to reflect the correct accounting (the "Interest Expense Revision"), that the second quarter EPS was 47 cents before the Interest Expense Revision, that after adjusting for the revision, the company reported earnings of 43 cents per share which is the midpoint of previous guidance range of 40 cents to 45 cents, that excluding the Interest Expense Revision, full year 2011 EPS guidance is now expected to be $3.05 to $3.15, reflecting a 10 cent reduction to prior guidance on continuing pricing softness for Eastern Mediterranean sailings, partially offset by strong cost savings, that the Interest Expense Revision is forecasted to reduce 2011 EPS by 20 cents resulting in full year 2011 EPS guidance of $2.85 to $2.95, and that its Board of Directors reinstated the quarterly dividend at a rate of 10 cents per share.
Royal Caribbean Cruises Ltd. also announced its Second Quarter 2011 Results and said its second quarter net income increased from$53.7 million, in 2010 to $93.5 million and its second quarter Revenues improved to $1.8 billion in the second quarter of 2011 compared to $1.6 billion in the second quarter of 2010.
Shares of Royal Caribbean Cruises Ltd. (Public, NYSE:RCL) fell from over $36 on July 27 to almost $30.50 during Friday, July 29, 2011 and closed on Friday August 5, 2011 at $27.00 per share.
Those who purchased shares of Royal Caribbean Cruises Ltd. (NYSE: RCL), between January 27, 2011 and July 28, 201, have certain options and there are strict and short deadlines running. Deadline: October 3, 2011. NYSE RCL stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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