On or around 03/17/2020 (Date of last review)
Filing Date: April 08, 2019
According to the Complaint, on March 15, 2019, Boeing filed its 2019 proxy statement (the “Proxy Statement”). The Proxy Statement seeks: (i) the election of all 13 director nominees constituting the entire Boeing board of directors (the “Board”); (ii) approval, on an advisory basis, of named executive officer compensation; (iii) ratification of the appointment of the Company’s independent auditor; and (iv) certain shareholder proposals that the Board has recommended shareholders vote against, including the appointment of an independent Chairman.
The Complaint alleges that the Proxy Statement is materially false and misleading because it fails to disclose the recent crippling events and circumstances that have shaken the Company to its core, subjected the Company to virtually unlimited civil and criminal prosecution and investigation, grounded its most innovative and profitable fleet of 737 MAX jets, and, among other things, left the Company scrambling to fix its most advanced automated flight systems and controls that both paralyzed its fleet and unveiled an air of secrecy and disinformation surrounding the introduction of this fleet without the necessary warnings to and training of pilots before introduction of the new automated systems incorporated into the design and engineering of this fleet and the method for stabilizing a plane experiencing a malfunction of these automated systems.
This case was voluntarily dismissed on April 29, 2019. A related case continues under Docket 19-CV-02394 in the Northern District of Illinois. On June 21, the Court issued an Order consolidating cases. On November 15, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on February 14, 2020.
Company & Securities Information
Defendant: The Boeing Company
Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States
Ticker Symbol: BA
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Jeweltex Manufacturing Inc., Retirement Plan, et al. v. The Boeing Company, et al.