PRLog - Aug. 17, 2011 - An investigation on behalf of current long term investors of Royal Caribbean Cruises Ltd. (NYSE: RCL) over possible breaches of fiduciary duties by certain directors and officers of Royal Caribbean Cruises Ltd. was announced.
If you are purchased Royal Caribbean Cruises Ltd. (NYSE: RCL) shares prior to January 2011 and presently continue to hold those NYSE RCL shares, you have certain options and you should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation follows a lawsuit filed for investors who purchased NYSE:RCL stock only between January 27, 2011 and July 28, 2011 over alleged violations of Federal Securities Laws by Royal Caribbean Cruises Ltd.
The investigation by a law firm on behalf of current long term investors in stock Royal Caribbean Cruises Ltd. (NYSE: RCL) concerns whether certain current and/or former officers and members of Royal Caribbean Cruises board of directors and executive officers can be held liable in connection with the alleged Securities Laws violations in the lawsuit by investors who purchased NYSE:RCL stock between January 27, 2011 and July 28, 2011. According to the complaint filed in the United States District Court for the Southern District of Florida 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.
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 Royal Caribbean Cruises Ltd. (NYSE: RCL) shares prior to January 2011 and presently continue to hold those NYSE RCL shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.