Processing your request


please wait...

Case Page

 

Case Status:    DISMISSED    
On or around 01/11/2019 (Court's order of dismissal)

Filing Date: November 28, 2018

Plaintiff's law firm issued a press release on November 28, 2018, announcing the lawsuit. According to the press release, Boeing designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide.

Boeing operates in four business segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital. The Commercial Airplanes segment provides commercial jet aircraft for passenger and cargo requirements, and fleet support services, principally to the commercial airline industry. This segment is a leading producer of commercial aircraft and offers a family of commercial jetliners designed to meet a broad spectrum of global passenger and cargo requirements of airlines. This family of commercial jet aircraft in production includes the 737 narrow-body model and the 747, 767, 777 and 787 wide-body models. Development continues on the 787-10 and certain 737 MAX derivatives and the 777X program.

The first 737 MAX 8 was delivered to customers in May 2017. The 737 MAX included a new automated stall-prevention system, designed to assist cockpit crews to avoid mistakenly raising a plane’s nose dangerously high. Upon delivery, Boeing touted the 737 MAX as “chang[ing] the face of the single-aisle market”.

On October 29, 2018, a Boeing 737 aircraft operated by the Indonesian airline Lion Air crashed shortly after takeoff, killing all passengers and crew.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; (ii) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

This case was voluntarily dismissed on December 21, 2018.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BA
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Illinois
DOCKET #: 18-CV-07853
JUDGE: Hon. Edmond E. Chang
DATE FILED: 11/28/2018
CLASS PERIOD START: 02/08/2017
CLASS PERIOD END: 11/13/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available