The law firm said it is reviewing whether losses tied to Wheels Up disclosures on falling annual revenue, increased cash used in operations and a planned 1-for-20 reverse split may be recoverable.
Robbins LLP said it is investigating Wheels Up Experience Inc. (NYSE: UP) to determine whether certain officers and directors violated securities laws and breached fiduciary duties to shareholders. The review follows Wheels Up’s February 19, 2026 report of fourth-quarter and full-year 2025 results, which showed revenue fell to $736.5 million from $792.1 million in 2024 while net cash used in operating activities rose to $166.3 million from $77.9 million. The company said some profitability metrics improved, but its stock declined after the release. Further pressure followed on April 14, 2026, when Wheels Up said it expected to complete a 1-for-20 reverse stock split of its Class A common stock after the close on April 24, 2026, with reverse split-adjusted trading expected to begin April 27, 2026. Wheels Up said the move was intended to help it regain compliance with NYSE listing standards and meet criteria for inclusion in the Russell 3000, and the stock continued to decline after that announcement.