NEW YORK, NY / ACCESSWIRE / April 12, 2016 / Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, reminds investors of class action against The Boeing Company ("Boeing" or "the Company") (NYSE: BA). The class action has been filed in the United States District Court, Northern District of Illinois on behalf of a class consisting of all persons or entities who purchased Boeing securities between February 9, 2012 and February 11, 2016, inclusive (the "Class Period").
<>This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Boeing Company is an American multinational corporation that designs, develops, manufactures, sells, services and supports airplanes, rotorcraft, rockets and satellites. It also provides leasing and product support services. The Company operates in five principal segments: Commercial Airplanes, Boeing Military Aircraft, Network & Space Systems, Global Services & Support, and Boeing Capital.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding Boeing’s business, operational and compliance policies, to disclose that: (i) Boeing's use of program accounting for the Company's 787 Dreamliner and/or 747 jumbo aircrafts relied on inflated sales forecasts; (ii) Boeing's use of program accounting for the Company's 787 Dreamliner and/or 747 jumbo aircrafts relied on understated estimates of production costs; and (iii) as a result of the foregoing, Boeing's public statements were materially false and misleading at all relevant times.
On February 11, 2016, Bloomberg News released that the United States Securities and Exchange Commission (SEC) is investigating whether Boeing correctly accounted for the costs, budgets and expected sales of the 787 Dreamliner and 747 Jumbo aircraft. Following this news, Boeing stocks have dropped $14.26, or 12.3%, to just $102.10 per share during intraday trading on February 11, 2016.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint and join the action, visit the firm's website: http://www.bgandg.com/#!ba/u1crr. To discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Boeing you have until April 22, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC