SOURCE: Brower Piven, A Professional Corporation

August 05, 2011 13:41 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $250,000 From Investment in Royal Caribbean Cruises Ltd. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the October 3, 2011 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Aug 5, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of Royal Caribbean Cruises, Ltd. ("Royal Caribbean" or the "Company") (NYSE: RCL) during the period between January 27, 2011 and July 28, 2001, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than October 3, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that the Company misrepresented its financial condition by failing to give proper accounting treatment to interest expense relating to its amortization of certain financing fees. According to the complaint, after, on July 28, 2011, Royal Caribbean revealed for the first time that it was performing below expectations and that its improper treatment of interest expense had resulted in the revision of the Company's past financial statements and a reduction in expected 2011 earnings, the value of Royal Caribbean stock declined significantly.

If you have suffered a net loss for all transactions in Royal Caribbean Cruises Ltd. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact