The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of The Boeing Company (NYSE: BA) who purchased shares between February 8, 2017 and November 13, 2018. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
(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, 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 FAA [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.” Following the publication of the Wall Street Journal article, Boeing’s stock price plummeted from a close of $357.03 on November 12, 2018, to a recent low of $312.32 on November 23, 2018.
Shareholders have until January 28, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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