NEW YORK--(BUSINESS WIRE)--Zamansky LLC announces that it has commenced an investigation of The Boeing Company (“Boeing”) (NYSE:BA) on behalf of its current and former employees over the Voluntary Investment Plan (the “Plan”) for potential violations of the federal Employee Retirement Income Security Act (“ERISA”). ERISA imposes fiduciary duties to prudently manage and invest plan assets. We are investigating whether these duties were violated by the continued offering of Boeing stock (BA) while the company was issuing possibly inaccurate and misleading financial statements.
On February 11, 2016, Bloomberg News reported that the U.S. Securities and Exchange Commission (“SEC”) is investigating whether Boeing properly accounted for the costs and expected sales of its 787 Dreamliner and 747 jumbo aircrafts. Upon this news, Boeing shares have fallen as much as $14.26, or 12.3%, to $102.10 during intraday trading on February 11, 2016. At the end of 2015, Boeing’s stock price traded at over $140 per share.
According to employee stock and investment fraud attorney, Jake Zamansky, Boeing’s employees who purchased and held company stock (BA) through the Plan since at least 2013, may have suffered losses to their retirement savings. This news of an SEC investigation over Boeing’s “program accounting” raise serious issues over the prudent monitoring and oversight of the Plan under ERISA, he states. ERISA is designed to protect employees’ retirement savings even when it is invested in company stock, Zamansky states.
What Boeing Current and Former Employees Can Do
If you are an existing or former Boeing employee who purchased company stock (BA), through the Voluntary Investment Plan, please contact our firm for an evaluation of your rights. You can contact Jake Zamansky by telephone at (212) 742-1414 or by email at firstname.lastname@example.org.
About Zamansky LLC
Zamansky LLC is a leading stock law firm specializing in securities fraud, ERISA and employment class actions. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.