SAN DIEGO, Oct. 10, 2025 (GLOBE NEWSWIRE) -- Robbins LLP reminds stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Spirit Aviation Holdings, Inc. (OTC PINK: FLYYQ) securities between May 28, 2025 and August 29, 2025. Spirit is the parent company of Spirit Airlines, LLC, an ultra-low-cost American airline that provides passenger air transportation services for destinations throughout the U.S., Latin America, and the Caribbean.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Spirit Aviation Holdings, Inc. (FLYYQ) Failed to Disclose it would be Required to File for Bankruptcy

According to the complaint, after reorganization due to bankruptcy on April 29. 2025, Spirit's common stock was approved for listing on the NYSE under the ticker symbol "FLYY." Plaintiff alleges that during the class period, defendants failed to disclose that (i) Spirit was at substantial risk of being unable to meet certain of its debt and other financial obligations; (ii) Spirit was also at substantial risk of being forced to file for Chapter 11 bankruptcy protection within a mere matter of months; and (iii) accordingly, defendants had overstated enhancements to Spirit’s financial condition, liquidity, and overall business and operations, while simultaneously downplaying the negative impacts of adverse market conditions on the same.

On August 29, 2025, Spirit issued a press release disclosing that “the Company has filed voluntary petitions for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York” and that “[t]he [Company’s] shares are expected to be cancelled and have no value as part of Spirit’s restructuring.” On the next trading day, September 2, 2025, the NYSE suspended trading of Spirit’s common stock. Following the foregoing disclosures and developments, Spirit’s stock price fell $0.71 per share, or 58.2%, to close at $0.51 per share on September 3, 2025—the first day that the Company’s common stock began trading on the over-the-counter (“OTC”) market under the ticker symbol “FLYYQ.”

What Now: You may be eligible to participate in the class action on behalf of Spirit Aviation Holdings, Inc. investors. Shareholders who wish to serve as lead plaintiff for the class must submit their papers to the court by December 1, 2025. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

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