Former Flybe shareholders are examining legal action over the 2019 ‘penny stock’ sale of the LCC in 2019 to the Connect Airways consortium of Stobart Airways, Virgin Atlantic and Cyrus in Q1 2019. A group of retail investors want to take former directors to court over allegations they put out inaccurate statements, UK media report on Sunday. Shareholders received 1p per share when the airline was sold to Connect Airways in early 2019. According to media reports, Flybe’s stock had been trading at 16.4p per share, valuing it at £36m, the day before the deal was announced. Shareholders were left with just nearly
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