NEW YORK, May 15, 2019 /PRNewswire/ -- Bernstein
Liebhard LLP announced that less than one month remains to make a
motion for lead plaintiff in a class action pending in the United States District Court for the
Northern District of Illinois on
behalf of all persons or entities (the "Class") who purchased the
securities of Boeing, Inc. ("Boeing" or the "Company") (NYSE: BA)
during the period of January 8, 2019
through March 21, 2019 (the "Class
Period"). The complaint alleges that Defendants violated
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. If
you wish to serve as lead plaintiff in the Boeing class action, you
must move the court no later than June 10, 2019. A lead
plaintiff is a representative party acting on behalf of other class
members in directing the litigation. Your ability to share in any
recovery does not require that you serve as lead plaintiff. If you
take no action, you may remain an absent class member.
Boeing designs, manufactures, and sells airplanes, rotorcraft,
rockets, satellites, and missiles worldwide. On October 29, 2018, a Boeing 737 Max 8 jet operated
by the Indonesian airline Lion Air crashed shortly after takeoff,
killing all passengers and crew. On November 12, 2018, the Wall Street
Journal published an article reporting 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[.]"
Plaintiffs allege that Defendants made misrepresentations about
the safety of the Company's 737 Max airplanes during the Class
Period. Specifically, Defendants allegedly concealed that (1)
the 737 Max airplanes lacked safety features which Boeing sold as
"optional" add-ons; (2) most airlines did not purchase these safety
"options"; and (3) the Federal Aviation Administration handed
oversight and certification of one of Boeing's safety systems to
Boeing, which had a clear conflict of interest as it was rushing
the 737 Max to market.
On March 10, 2019, 157 people
perished after an Ethiopian Airlines-operated Boeing 737 Max 8 jet
crashed in Addis Ababa, Ethiopia
shortly after takeoff. In the wake of the crash, regulators in
China and several other countries
grounded all Boeing 737 Max 8 jets. On March 11, 2019, Boeing's stock price fell
$22.53, or over 5%, to close at
$400.01 per share.
On March 21, 2019, The
New York Times reported that Boeing
had concealed from pilots and passengers that Boeing created two
new safety features that it sold as "extras" or "optional features"
to keep cost down. This news drove the price of Boeing shares
down $10.53, or about 3%, on
March 22, 2019.
If you purchased Boeing securities, and/or would like to discuss
your legal rights and options, please visit
https://www.bernlieb.com/cases/boeing-ba-lawsuit-class-action-fraud-stock-124/
or contact Joe Seidman toll free at (877) 779-1414
or via email at seidman@bernlieb.com.
Bernstein Liebhard LLP has pursued hundreds of securities,
consumer, and shareholders rights cases and recovered over
$3.5 billion for its
clients. The Firm has been named to The National Law
Journal's "Plaintiffs' Hot List" thirteen times and
been listed in The Legal 500 for ten consecutive years.
You can obtain a copy of the complaint from the clerk of the
court for the United States
District Court for the Northern District of Illinois.
ATTORNEY ADVERTISING. © 2019 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New
York 10016, (212) 779-1414. The lawyer responsible for this
advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not
guarantee or predict a similar outcome with respect to any future
matter.
Contact Information
Joseph R. Seidman, Jr.
Bernstein Liebhard LLP
http://www.bernlieb.com
(877) 779-1414
seidman@bernlieb.com
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