Company: The Boeing Company
Class Period: February 8, 2017 — November 13, 2018
Court: U.S.D.C. – Northern District of Illinois
Deadline: January 28, 2019
Kaskela Law LLC announces that a class action lawsuit has been filed against The Boeing Company (“Boeing” or the “Company”) (NYSE: BA) on behalf of purchasers of the Company’s common stock between February 8, 2017 and November 13, 2018, inclusive (the “Class Period”).
On November 13, 2018, The Wall Street Journal reported that “Boeing Co. withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month’s fatal Lion Air jet crash, according to safety experts involved in the investigation, as well as midlevel FAA officials and airline pilots.” Following this news, shares of the Company’s common stock declined $7.52 per share, to close on November 13, 2018 at $349.51 per share, on heavy trading volume.
The class action complaint alleges that defendants made materially false and misleading statements during the Class Period and failed to disclose to investors that: (i) the Company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; and (ii) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions. The complaint further alleges that, as a result of the foregoing, investors purchased Boeing’s common stock at artificially inflated prices during the Class Period and suffered investment losses as a result of defendants’ conduct.
IMPORTANT DEADLINE: Investors who purchased Boeing’s common stock during the Class Period may, no later than January 28, 2019, seek to be appointed as a lead plaintiff representative of the investor class.
Boeing investors who purchased the Company’s common stock during the Class Period and suffered an investment loss in excess of $100,000 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740 to discuss their legal rights and recovery options. To submit your information to the firm please complete the information form on this page.