LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In The Boeing Company To Contact The Firm
NEW YORK, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in The Boeing Company (“Boeing” or the “Company”) (NYSE:BA) of the January 28, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Boeing stock or options between February 8, 2017 and November 13, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/BA. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
CONTACT: FARUQI & FARUQI, LLP 685 Third Avenue, 26th Floor New York, NY 10017Attn: Richard Gonnello, Esq. email@example.com Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Northern District of Illinois on behalf of all those who purchased Boeing common stock between February 8, 2017 and November 13, 2018 (the “Class Period”). The case, Ostroff v. The Boeing Company et al, No. 18-cv-07853 was filed on November 28, 2018, and has been assigned to Judge Edmond E. Chang.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; (2) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Specifically, on November 12, 2018, post-market, The Wall Street Journal published an article entitled “Boeing Withheld Information on 737 Model, According to Safety Experts and Others.” The article attributed the Lion Air 737 MAX crash to a new flight-control feature that Boeing implemented in its 737 MAX aircrafts.
On this news, the Company’s stock price fell, over two trading sessions, from $357.03 per share on November 12, 2018 to $344.72 per share on November 14, 2018—a $12.31 or 3.45% drop.
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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