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 January 8, 2019 and May 8, 2019. 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.
In particular, the Boeing lawsuit alleges that (1) Boeing’s 737 MAX airplanes were not as safe as previous models, therefore Boeing included undisclosed “hacks” created by engineering compromises and the lack of safety features which Boeing sold as “optional” add-ons which were designed to help address these safety concerns; (2) most airlines did not purchase these safety “options”; (3) the Federal Aviation Administration granted Boeing its own oversight and certification of Boeing’s new flight control system, or Maneuvering Characteristics Augmentation Systems, which was a clear conflict of interest as Boeing was rushing the 737 MAX airplanes to market; and (4) as a result of the foregoing, Boeing’s public statement were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shareholders have until June 10, 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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