|Company name||The Boeing Company|
|Class period||February 8, 2017 – October 13, 2018|
|Lead plaintiff deadline||January 28, 2019|
|Court||Northern District of Illinois|
NEW YORK, November 30, 2018 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all persons or entities who purchased or otherwise acquired The Boeing Company (NYSE: BA) securities between February 8, 2017 and October 13, 2018 (the “Class Period”). Investors have until January 28, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) the company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; (ii) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions; and (iii) as a result, the company’s public statements were materially false and misleading at all relevant times.
On November 12, 2018, post-market, The Wall Street Journal published an article entitled “Boeing Withheld Information on 737 Model, According to Safety Experts and Others.” Citing “safety experts involved in the investigation, as well as midlevel [Federal Aviation Administration] officials,” the article reported that Boeing “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.”
On this news, Boeing’s stock price fell by more than 3%, closing at $344.72 per share on November 14, 2018. Over the 11 days following the publication of the Wall Street Journal article, Boeing’s stock price fell a total of over 12%, closing at $312.32 per share on November 23, 2018.
If you purchased Boeing securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.