The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and/or failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Companys medics reported increasing events of COVID-19 illness on the Companys ships; (2) Carnival had violated port of call regulations by concealing the amount and severity of COVID-19 infections onboard its ships; (3) in responding to the outbreak of COVID-19, Carnival failed to follow the Companys health and safety protocols developed in the wake of other communicable disease outbreaks; (4) by continuing to operate, Carnival ships were responsible for continuing to spread COVID-19 at various ports throughout the world; and (5) as a result of the foregoing, Defendants positive statements about the Companys business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. On April 16, 2020, when the Company still had at sea two (2) of its cruise ships, Bloomberg Businessweek published an article titled Carnival Executives Knew They Had a Virus Problem, But Kept the Party Going. In that article, it was revealed that Carnival may have failed to adequately protect passengers from COVID-19 on a series of cruise voyages, and indeed continued to operate new cruise departures despite its knowledge that the threat posed by COVID-19 had materialized on its ships and was likely to proliferate further. On this news, the Companys share price fell $0.53 per share from a prior close of $12.38 per share to close at $11.85 per share on April 16, 2020. Then, on May 1, 2020, The Wall Street Journal published an article titled Cruise Ships Set Sail Knowing the Deadly Risk to Passengers and Crew. That article detailed how cruise ships, particularly Carnival ships, facilitated the spread of COVID-19, and provided new facts on early warning signs Carnival and its affiliated cruise lines possessed and the Companys disclosure failures. Further, the article also noted that The House Committee on Transportation and Infrastructure had requested documents from Carnival related to Covid-19 or other infectious disease outbreaks aboard cruise ships and that testimony from a separate investigation in Australia revealed that Carnival and its affiliated cruise lines may have misled shore officials by concealing those exhibiting COVID-19 symptoms before docking. On this news, the Companys share price fell $1.97 per share from a prior close of $15.90 per share to close at $13.93 per share on May 1, 2020.