We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spirit Airlines, Inc. (“Spirit Airlines” or the “Company”) (NYSE: SAVE), in connection with the proposed merger of the Company with Frontier Group Holdings, Inc. (“Frontier”) (NASDAQ: ULCC).  Under the terms of the merger agreement, the Company’s shareholders will receive 1.9126 shares of Frontier plus $2.13 in cash for each share of Spirit Airlines common stock that they hold, representing implied per-share merger consideration of approximately $26.65 based upon Frontier’s February 7, 2022 closing price of $12.82.  Upon completion of the transaction, Frontier shareholders will own approximately 51.5% of the combined company, while Spirit Airlines shareholders will own 48.5% of the combined company.

WeissLaw LLP is investigating whether: (i) Spirit Airlines’ board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Spirit Airlines’ shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, at least one analyst set a price target for the Company of $43 per share, $16.36 above the per-share merger consideration.