If you suffered losses exceeding $100,000 investing in Boeing stock or options between October 23, 2019 and January 24, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/BA.
There is no cost or obligation to you.
NEW YORK, Feb. 22, 2024 (GLOBE NEWSWIRE) — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against The Boeing Company (“Boeing” or the “Company”) (NYSE: BA) and reminds investors of the April 1, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Boeing had been prioritizing its profits over safety, which led to poor quality control standards in the production of its commercial aircrafts such as the 737 MAX; and (2) as a result, there was a heightened risk of manufacturing flaws that could render Boeing’s new airplanes unsafe, which materialized during the Class Period. When the true details entered the market, the lawsuit claims that investors suffered damages.
On January 5, 2024, a Boeing 737 aircraft operated by Alaska Airlines experienced an in-flight departure of an in-cabin door plug, causing the cabin to become depressurized and forcing an emergency landing. On January 6, 2024, the Federal Aviation Administration issued a grounding order, stating that “Boeing 737-9 aircraft will remain grounded until operators complete enhanced inspections which include both left and right cabin door exit plugs, door components, and fasteners” and that “[o]perators must also complete corrective action requirements based on findings from the inspections prior to bringing any aircraft back into service.”
On this news, Boeing’s stock price fell $19.99 per share, or 8.73%, to close at $229.01 per share on January 8, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Boeing’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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