14.  Plaintiff brings this action as a class action pursuant to Federal Rule of Civil  Procedure 23(a) and (b)(3) on behalf of a Class, consisting of all those who purchased or  otherwise acquired securities of Royal Caribbean between January 27, 2011 and July 28, 2011,  inclusive (the “Class”) and who were damaged thereby.  Excluded from the Class are defendants,  the officers and directors of the Company, at all relevant times, members of their immediate  families and their legal representatives, heirs, successors or assigns and any entity in which  defendants have or had a controlling interest.   16.  Plaintiff’s claims are typical of the claims of the members of the Class as all  members of the Class are similarly affected by defendants’ wrongful conduct in violation of  federal law that is complained of herein.   17.  Plaintiff will fairly and adequately protect the interests of the members of the  Class and has retained counsel competent and experienced in class and securities litigation.   19.  A class action is superior to all other available methods for the fair and  efficient  adjudication of this controversy since joinder of all members is impracticable.  Furthermore, as  the damages suffered by individual Class members may be relatively small, the expense and  burden of individual litigation make it impossible for members of the Class to individually  redress the wrongs done to them.  There will be no difficulty in the management of this action as  a class action.  22.  In addition to the foregoing, the January 27, 2011 release also quoted defendant  Fain, in part, as follows:  "These improved results reflect the strong reception our new ships have  received along with the solid branding our different cruise brands have  enjoyed," said Richard D. Fain, chairman and chief executive officer. Fain  continued, "WAVE is off to a solid start and supports our earlier confidence in  meaningful pricing recovery and record financial performance in 2011."  [Emphasis added.]   23.  Following the publication of the January 27, 2011 release, shares of the Company  traded at prices artificially inflated by defendants’ false and misleading statements.  Taking  advantage of this artificial inflation in the price of Company shares, defendant Fain immediately  liquidated over $9 million of his personally held Royal Caribbean shares.     25.  Certifications.  In addition to the foregoing, the Company’s 2010 Form 10-K also  contained certifications by defendants Rice and Fain, that attested to the purported accuracy and  completeness of the Company’s financial and operational reports, as follows:  56.  Defendants were motivated to materially misrepresent to the SEC and investors  the true financial condition of the Company because: (i) it deceived the investing public  regarding Royal Caribbean ’s business, operations, management and the intrinsic value of Royal  Caribbean  securities; (ii) it enabled defendants to artificially inflate the price of Royal Caribbean   shares; (iii) it enabled Royal Caribbean  insiders to sell tens of millions of dollars of their  privately held Royal Caribbean  shares while in possession of material adverse non-public  information about the Company; and (iv) it caused plaintiff and other members of the Class to  purchase Royal Caribbean  securities at artificially inflated prices.     Applicability Of Presumption Of Reliance:  Fraud-On-The-Market Doctrine   58.  As a result of the foregoing, the market for Royal Caribbean securities promptly  digested current information regarding Royal Caribbean from all publicly available sources and  reflected such information in Royal Caribbean stock price. Under these circumstances, all  purchasers of Royal Caribbean  securities during the Class Period suffered similar injury through  their purchase of Royal Caribbean securities at artificially inflated prices and a presumption of  reliance applies.  60.  Plaintiff has alleged the following based upon the investigation of plaintiff’s  counsel, which included a review of SEC filings by Royal Caribbean, as well as regulatory  filings and reports, securities analysts’ reports and advisories about the Company, press releases  and other public statements issued by the Company, and media reports about the Company, and  plaintiff believes that substantial additional evidentiary support will exist for the allegations set  forth herein after a reasonable opportunity for discovery.  61.  Plaintiff repeats and realleges each and every allegation contained above as if  fully set forth herein.   63.  Defendants (a) employed devices, schemes, and artifices to defraud; (b) made  untrue statements of material fact and/or omitted to state material facts necessary to make the  statements not misleading; and (c) engaged in acts, practices, and a course of business which  operated as a fraud and deceit upon the purchasers of the Company’s securities in an effort to  maintain artificially high market prices for Royal Caribbean ’s securities in violation of Section  10(b) of the Exchange Act and Rule 10b-5.  All defendants are sued either as primary  participants in the wrongful and illegal conduct charged herein or as controlling persons as  alleged below.   64.  Defendants, individually and in concert, directly and indirectly, by the use, means  or instrumentalities of interstate commerce and/or of the mails, engaged and participated in a  continuous course of conduct to conceal adverse material information about the business,  operations and future prospects of Royal Caribbean  as specified herein.   66.  Each of the Individual Defendants’ primary liability, and controlling person  liability, arises from the following facts: (i) the Individual Defendants were high-level executives  and/or directors at the Company during the Class Period and members of the Company’s  management team or had control thereof; (ii) each of these defendants, by virtue of his  responsibilities and activities as a senior officer and/or director of the Company was privy to and  participated in the creation, development and reporting of the Company’s internal budgets, plans,  projections and/or reports; (iii) each of these defendants enjoyed significant personal contact and  familiarity with the other defendants and was advised of and had access to other members of the  Company’s management team, internal reports and other data and information about the  Company’s finances, operations, and sales at all relevant times; and (iv) each of these defendants  was aware of the Company’s dissemination of information to the investing public which they  knew or recklessly disregarded was materially false and misleading.   68.  As a result of the dissemination of the materially false and misleading information  and failure to disclose material facts, as set forth above, the market price of Royal Caribbean   securities was artificially inflated during the Class Period.  In ignorance of the fact that market  prices of Royal Caribbean ’s publicly-traded securities were artificially inflated, and relying  directly or indirectly on the false and misleading statements made by defendants, or upon the  integrity of the market in which the securities trade, and/or on the absence of material adverse  information that was known to or recklessly disregarded by defendants but not disclosed in  public statements by defendants during the Class Period, plaintiff and the other members of the  Class acquired Royal Caribbean  securities during the Class Period at artificially high prices and  were damaged thereby.   69.  At the time of said misrepresentations and omissions, plaintiff and other members  of the Class were ignorant of their falsity, and believed them to be true.  Had plaintiff and the  other members of the Class and the marketplace known the truth regarding the problems that  Royal Caribbean  was experiencing, which were not disclosed by defendants, plaintiff and other  members of the Class would not have purchased or otherwise acquired their Royal Caribbean   securities, or, if they had acquired such securities during the Class Period, they would not have  done so at the artificially inflated prices which they paid.   70.  By virtue of the foregoing, defendants have violated Section 10(b) of the  Exchange Act, and Rule 10b-5 promulgated thereunder.   72.  Plaintiff repeats and realleges each and every allegation contained above as if  fully set forth herein.   73.  The Individual Defendants acted as controlling persons of Royal Caribbean   within the meaning of Section 20(a) of the Exchange Act as alleged herein.  By virtue of their  high-level positions, and their ownership and contractual rights, participation in and/or  awareness of the Company’s operations and/or intimate knowledge of the false financial  statements filed by the Company with the SEC and disseminated to the investing public, the  Individual Defendants had the power to influence and control and did influence and control,  directly or indirectly, the decision-making of the Company, including the content and  dissemination of the various statements which plaintiff contends are false and misleading.  The  Individual Defendants were provided with or had unlimited access to copies of the Company’s  reports, press releases, public filings and other statements alleged by plaintiff to be misleading  prior to and/or shortly after these statements were issued and had the ability to prevent the  issuance of the statements or cause the statements to be corrected.   74.  In particular, each of these defendants had direct and supervisory involvement in  the day-to-day operations of the Company and, therefore, is presumed to have had the power to  control or influence the particular transactions giving rise to the securities violations as alleged  herein, and exercised the same.   Defendants’ Materially False and Misleading  Statements Made During the Class Period   Violation Of Section 20(a) Of  The Exchange Act Against Individual Defendants   Violation Of Section 10(b) Of  The Exchange Act And Rule 10b-5  Promulgated Thereunder Against All Defendants  