An investor in shares of The Boeing Company (NYSE: BA) filed a lawsuit against directors of Boeing in connection with Boeing’s 737 Max airplanes.
Investors who are current long term investors in The Boeing Company (NYSE: BA) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that certain officers and directors of Boeing implemented inadequate safety oversight of Boeing’s 7373 Max airplanes, which were grounded earlier this year after two fatal crashes with more than 300 fatalities within five months. The plaintiff claims that since at least 2011, former and current officers of The Boeing Co. breached their fiduciary duty to the company by not ensuring the safety of its most successful line of commercial aircraft.
The lawsuit against certain directors of The Boeing Company comes after another lawsuit alleged securities laws violations by the company. According to that complaint filed in the U.S. District Court for the Northern District of Illinois the plaintiff alleges that The Boeing Company concealed critical facts concerning the 737 MAX airplanes from investors, including the fact that Boeing designed and sold as “extras” or “optional features” safety features designed to prevent accidents such as the Lion Air and Ethiopian Airline crashes, that The Boeing Company also hid the fact that most airlines, including United, did not purchase these safety features, that The Boeing Company failed to disclose that Boeing had received delegated authority from the FAA over the safety analysis of the Maneuvering Characteristics Augmentation System (MCAS) – the system reportedly responsible for the crashes – that the Company delivered to the FAA, all while rushing the 737 MAX to market, and that The Boeing Company knew that it had a clear conflict of interest and that its certification was undermined by the Company’s desire to rush the 737 MAX to market, despite decreased safety, in order to compete with Airbus.
Those who purchased shares of The Boeing Company (NYSE: BA) have certain options and should contact the Shareholders Foundation.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
