Ryanair, CE are sued in US over stock price, labour relations

Ryanair Holdings and long-time CE Michael O'Leary have been sued in New York by a shareholder that said the airline defrauded investors and inflated its share price by overstating its ability to manage labour relations and keep costs down. The complaint was filed Tuesday by an Alabama pension fund, seeking class-action status and damages for investors in Ryanair's American depositary shares from May 30, 2017 to Sept 28, 2018. Wednesday, Ryanair said it will defend itself against the claims, which it called "false" and "doomed to fail." According to the complaint, Ryanair misled investors in regulatory filings and conference calls about its labour stability, including "industry leading" contracts with pilots and cabin crews, and its positive impact on operations. <br/>