NEW YORK, April 12, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of The
Boeing Company (“Boeing” or the “Company”) (NYSE: BA). Such investors are advised to contact Robert S. Willoughby at
rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Boeing and certain of its officers and/or directors have engaged in
securities fraud or other unlawful business practices.
[Click here to join a class action]
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, 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” and 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[.]”
Over the 11 days following the publication of the Wall Street Journal article, Boeing’s stock price
fell a total of $44.71 per share, or roughly 12.5%, to close at $312.32 per share on November 23, 2018.
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 $22.65, or over 5%, to close at
$399.89.
The following day, Boeing’s stock price fell an additional $24.60 per share, or 6.15%, closing at $375.41 on
March 12, 2019. On March 13, 2019, the Federal Aviation Administration ordered all Boeing 737 Max 8 and Max 9 jets to be
temporarily grounded in the U.S.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the
premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz,
known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70
years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities
fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlawfirm.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
