A lawsuit was filed on behalf of investors in The Boeing Company (NYSE: BA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 04/23/2019 -- An investor, who purchased shares of The Boeing Company (NYSE: BA), filed a lawsuit over alleged violations of Federal Securities Laws by The Boeing Company in connection with certain allegedly false and misleading statements.
Investors who purchased shares of The Boeing Company (NYSE: BA) have certain options and for certain investors are short and strict deadlines running. Deadline: June 10, 2019. NYSE: BA investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
On November 12, 2018, the Wall Street Journal published an article titled "Boeing Withheld Information on 737 Model, According to Safety Experts and Others." According to the article, 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[.]"
On March 10, 2019, an Ethiopian Airlines-operated Boeing 737 Max 8 model airplane crashed in Addis Ababa, Ethiopia, shortly after take-off, killing all 157 people onboard. In the wake of the crash, regulators in China and several other countries grounded all Boeing 737 Max 8 jets.
The plaintiff claims that The Boeing Company concealed critical facts concerning the 737 MAX airplanes from investors, including the fact that Boeing designed and sold as "extras" or "optional features" safety features designed to prevent accidents such as the Lion Air and Ethiopian Airline crashes, that The Boeing Company also hid the fact that most airlines, including United, did not purchase these safety features, that The Boeing Company failed to disclose that Boeing had received delegated authority from the FAA over the safety analysis of the Maneuvering Characteristics Augmentation System (MCAS) – the system reportedly responsible for the crashes – that the Company delivered to the FAA, all while rushing the 737 MAX to market, and that The Boeing Company knew that it had a clear conflict of interest and that its certification was undermined by the Company's desire to rush the 737 MAX to market, despite decreased safety, in order to compete with Airbus.
Those who purchased shares of The Boeing Company (NYSE: BA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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