Hagens Berman Alerts Boeing (BA) Investors to Investigation of 737MAX Safety Disclosure Violations
SAN FRANCISCO--(BUSINESS WIRE)--Apr 4, 2019--Hagens Berman Sobol Shapiro LLP announces that it is investigating on behalf of investors in The Boeing Company ( NYSE: BA ) disclosure violations of the Federal securities laws relating to the safety of the 737 MAX, shortcuts known by management, and the separate charges for necessary safety equipment many airlines opted to forego. If you purchased or otherwise acquired Boeing common securities between October 1, 2018 and March 21, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information about the investigation click
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On March 10, 2019, Ethiopian Airlines flight ET302 tragically crashed, killing all passengers. The plane was Boeing’s relatively new 737 MAX-8. Less than five months earlier a Lion Air flight (also a 737 MAX aircraft) crashed, killing all passengers.
In the wake of the March 10 crash, numerous countries grounded 737 MAX-8 aircraft and the Company is reportedly the subject of investigations by the U.S. Department of Justice, the U.S. Transportation Department inspector general, and the FBI.
In response to news of the March 10 crash, the price of Boeing shares fell $47.13, or down over 11%, during the next two trading days to close at $375.41 on March 12, 2019.
“How could senior management not know that the modifications to the MAX compromised safety, not tell anyone, and then sell necessary, but possibly inadequate, safety features as optional add-ons?” said Hagens Berman partner Reed Kathrein. “We welcome information about what the C suite knew.”
Whistleblowers: Persons with non-public information regarding Boeing should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BA@hbsslaw.com.
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 78 attorneys in 9 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190404005199/en/
Reed Kathrein, 510-725-3000
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA WASHINGTON
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Hagens Berman Sobol Shapiro LLP
Copyright Business Wire 2019.
PUB: 04/04/2019 09:30 AM/DISC: 04/04/2019 09:30 AM