The inquiry follows a series of financial disclosures throughout early 2026. Wheels Up reported annual revenue of $736.5 million for 2025, down from $792.1 million the previous year. Simultaneously, the company’s net cash used in operating activities surged to $166.3 million, more than double the $77.9 million reported in 2024. Investors saw the share price slide following these results.

Market pressure intensified in April 2026 when the firm announced a 1-for-20 reverse stock split. While management stated the move was intended to regain compliance with NYSE listing standards and satisfy Russell 3000 criteria, the stock price continued its downward trend. Robbins LLP is now evaluating potential claims for shareholders who suffered losses during this period. The firm handles such cases on a contingency basis, meaning participants incur no upfront legal fees.