|Court:||United States District Court for the Northern District of Illinois|
|Class Period:||11/07/2018 - 12/16/2019|
|Case Leaders:||John C. Browne, Gerald H. Silk, Adam Hollander, Abe Alexander, Scott R. Foglietta, Katherine M. Sinderson|
|Case Team:||James M. Fee, Reiko Cyr|
Securities fraud class action filed on behalf of a class of persons and entities who purchased or acquired the securities of The Boeing Company (“Boeing” or “the Company”) between November 7, 2018 and December 16, 2019 (the "Class Period"). The action alleges violations of the federal securities laws – in that the Company misled investors about the financial prospects for its commercial airplanes by misstating and concealing information about safety problems with the 737 MAX in the wake of investigations after multiples crashes in 2018 and 2019.
On November 15, 2019, the Honorable John J. Tharp, Jr. appointed BLB&G client the Public Employees' Retirement System of Mississippi as Lead Plaintiff and BLB&G as Lead Counsel for the Class in the consolidated class action.
Background on the Alleged Fraud
The Boeing Company is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. The Company also provides leasing and product support services. Boeing is among the largest global aerospace manufacturers.
In October 2018 and March 2019 two Boeing 737 MAX airplanes crashed.The New York Times reported in March 2019 that the two planes that crashed lacked two safety features that Boeing sold as options on the 737 MAX aircraft. Based on BLB&G’s ongoing investigation, Plaintiffs believe that Boeing mislead investors about the financial prospects for its commercial airplanes business by misstating and concealing information about safety problems with the 737 MAX in the wake of crash investigations.
Plaintiffs’ amended complaint was filed on February 14, 2020. As of September 14, 2020, the motion to dismiss is fully briefed and pending before the Court.
- Events BLB&G Hosts Annual 2021 Institutional Shareholder Conference in Amsterdam September 9, 2021 Learn More
- Publications "Forensic Linguistics and the Telephone Interview" by Jenna Goldin published by The New York City Fraud Examiner July 21, 2021 Learn More
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- Events BLB&G Partner David Wales Speaks at the Practising Law Institute's webinar "ESG 2021: What It Means for Boards, Management, and Counsel" June 24, 2021 Learn More
- Publications "Important Considerations in Deciding Whether to Opt Out of Securities Class Actions" by Jonathan Uslaner published in Reuters June 23, 2021 Learn More