Levi & Korsinsky, LLP announces that a BA class action lawsuit has been filed on behalf of investors who purchased The Boeing Company (BA) securities between February 8, 2017 and November 13, 2018. For more on the BA Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; (ii) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times. On November 12, 2018, 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 FAA [Federal Aviation Administration] officials,” the article reported 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.” Following the publication of the Wall Street Journal article, Boeing’s stock price plummeted from a close of $357.03 on November 12, 2018, to a recent low of $312.32 on November 23, 2018.
If you suffered a loss in you have until January 28, 2019 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.