The law firm of Lieff Cabraser Heimann & Bernstein, LLP reminds
investors of the upcoming deadline to move for appointment as lead
plaintiff in the class
action has been filed on behalf of investors who purchased or otherwise
acquired the securities of The Boeing Company (“Boeing” or the
“Company”) (NYSE: BA) between January 8, 2019 and March 21, 2019,
inclusive (the “Class Period”).
If you purchased or otherwise acquired Boeing securities during the
Class Period, you may move the Court for appointment as lead plaintiff
by no later than June 10, 2019. A lead plaintiff is a representative
party who acts on behalf of other class members in directing the
litigation. Your share of any recovery in the actions will not be
affected by your decision of whether to seek appointment as lead
plaintiff. You may retain Lieff Cabraser, or other attorneys, as your
counsel in the actions.
Boeing
investors who wish to learn more about the litigation and how to seek
appointment as lead plaintiff should click here or contact Sharon M.
Lee of Lieff Cabraser toll-free at 1-800-541-7358.
Boeing is incorporated in Delaware with its principal executive offices
located in Chicago, Illinois.
During this Class Period, Plaintiffs allege that Boeing falsely claimed
in its February 2019 10-K that it is “committed to being the leader in
commercial aviation by offering airplanes and services that deliver
superior design, efficiency and value to customers around the world.”
Boeing likewise issued press releases during the Class Period about the
sale of its 737 MAX planes that failed to disclose that safety features
did not come with the plane unless bought as “extra” features.
On October 29, 2018, shortly after takeoff, Boeing 747 Max airplane
flying Lion Air Flight 610 crashed. On March 10, 2019, a second Boeing
747 MAX crashed. Ethiopian Airlines Flight 302 went down a few minutes
after takeoff with 157 passengers and crew on board. The next day,
Ethiopian Airlines grounded its 737 MAX 8. Similarly, the China Civil
Aviation Administration grounded the 737 MAX 8. On this news, the price
of Boeing common stock declined by $47.13 per share, or 11.2%, during
the following two trading days, closing at $375.41 on March 12, 2019.
On March 17, 2019, The Seattle Times released an investigative
report that the original safety analysis for the Boeing 747 MAX that
Boeing sent to the FAA had several crucial flaws and that the FAA had
given Boeing increasing authority to certify the safety of its own
airplanes. On March 18, 2019, Bloomberg reported that U.S.
federal authorities had begun exploring a criminal investigation into
how Boeing’s 737 MAX was certified to fly passengers before the
Ethiopian crash. Following these press reports, the price of Boeing
stock declined by $6.71 per share on March 18, 2019.
On March 21, 2019, The New York Times reported in an article
entitled, “Doomed Boeing Jets Lacked 2 Safety Features That Company Sold
Only as Extras,” that Boeing hid from investors, pilots, and passengers,
the fact that the software system that could have fixed the issue that
led to the crashes was not a standard feature but that airlines had to
pay more for this “extra” or “optional feature” as a way for Boeing to
decrease the purchase price of the airplane. Following this news, of the
price of Boeing stock declined by $10.53 per share, or 3%, to close at
$362.17 on March 22, 2019.
About Lieff Cabraser
Lieff Cabraser Heimann & Bernstein, LLP, with offices in San Francisco,
New York, and Nashville, is a nationally recognized law firm committed
to advancing the rights of investors and promoting corporate
responsibility.
The National Law Journal has recognized Lieff Cabraser as one of
the nation’s top plaintiffs’ law firms for fourteen years. In compiling
the list, the National Law Journal examines recent verdicts and
settlements and looked for firms “representing the best qualities of the
plaintiffs’ bar and that demonstrated unusual dedication and
creativity.” Law360 has selected Lieff Cabraser as one of the Top
50 law firms nationwide for litigation, highlighting our firm’s “laser
focus” and noting that our firm routinely finds itself “facing off
against some of the largest and strongest defense law firms in the
world.” In late 2016, Benchmark Litigation named Lieff Cabraser
one of the “Top 10 Plaintiffs’ Firms in America.”
For more information about Lieff Cabraser and the firm’s representation
of investors, please visit http://www.lieffcabraser.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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