NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against The Boeing Company (“Boeing” or the “Company”) (NYSE: BA). This investigation concerns whether Boeing has violated federal securities laws and/or engaged in other unlawful business practices.
On October 29, 2018, a Boeing 737 Max 8 jet operated by the Indonesian airline Lion Air crashed shortly after takeoff, killing all passengers and crew. On November 12, 2018, post-market, the Wall Street Journal published an article titled “Boeing Withheld Information on 737 Model, According to Safety Experts and Others,” citing “safety experts involved in the investigation, as well as midlevel [Federal Aviation Administration] officials” and reporting that Boeing “withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month’s fatal Lion Air jet crash[.]” Over the 11 days following the publication of the Wall Street Journal article, Boeing’s stock price fell a total of $44.71 per share, or roughly 12.5%, to close at $312.32 per share on November 23, 2018.
On March 10, 2019, 157 people perished after an Ethiopian Airlines-operated Boeing 737 Max 8 jet crashed in Addis Ababa, Ethiopia shortly after takeoff. In the wake of the crash, regulators in China and several other countries grounded all Boeing 737 Max 8 jets. On March 11, 2019, Boeing’s stock price fell $22.53, or over 5%, to close at $400.01. The following day, Boeing’s stock price fell an additional $24.60 per share, or 6.15%, closing at $375.41 on March 12, 2019. On March 13, 2019, the Federal Aviation Administration ordered all Boeing 737 Max 8 and Max 9 jets to be temporarily grounded in the U.S.
If you acquired Boeing securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
