Ryanair $5M Investor Unionization Settlement

Ryanair agreed to a $5 million settlement to address allegations of false claims regarding unionization.

Investors sought approval from a New York federal judge, asserting that the Irish budget airline and its CEO artificially inflated share prices by falsely promising a union-free environment. The share prices dropped when Ryanair workers eventually unionized.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Ryanair’s business and operations as a result of its aggressive anti-employee practices and opposition to employee collectivization efforts. Specifically, the Complaint alleges that Defendants misrepresented and/or failed to disclose, among other things, that Ryanair’s labor relations had deteriorated in 2017 and 2018. As a result, the Company was experiencing increased employee turnover and was threatened with massive strikes and other disruptions across its operations, and its historical operating model and profit growth were not sustainable.