Robbins Arroyo LLP: The Boeing Company (BA) Misled Shareholders According to Class Action
SAN DIEGO & CHICAGO--(BUSINESS WIRE)--Nov 29, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of The Boeing Company (NYSE: BA) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between February 8, 2017 and November 13, 2018. Boeing manufactures commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/the-boeing-company/
Boeing Accused of Withholding Information Regarding the Potential Hazards of Certain Airplane Features
According to the complaint, Boeing withheld information about potential hazards associated with a new flight-control feature that may have played a role in the deadly plane crash in Indonesia last month. The complaint alleges that the automated stall-prevention system on certain Boeing models that is designed to help pilots avoid mistakenly raising a plane’s nose dangerously high can push the nose down unexpectedly and so strongly that flight crews cannot pull it back up. Unfortunately, the pilots at the helm of the doomed airliner were not told such a system had been added to the plane and were therefore unprepared to handle the risks. Boeing is now under scrutiny by industry and government officials, including the Federal Aviation Administration. Since news of Boeing’s failures was revealed, the company’s stock has fallen nearly 10% to close at $333.50 per share on November 28, 2018.
Boeing Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181129005608/en/
CONTACT: Leonid Kandinov
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2018.
PUB: 11/29/2018 12:26 PM/DISC: 11/29/2018 12:26 PM