SAN FRANCISCO, April 12, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, reminds Boeing Company (NYSE:BA) investors of the April 22, 2016 lead plaintiff deadline in the securities class action lawsuit related to alleged accounting manipulation in the production of its 787 Dreamliner and 747 jets.
If you suffered significant losses because of your purchases of Boeing between February 9, 2012 and February 11, 2016, or have information that will help our continuing investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing BA@hbsslaw.com or visiting https://www.hbsslaw.com/cases/BA. The lawsuit was filed in the U.S. District Court for the Northern District of Illinois and investors have until April 22, 2016 to move the court to participate as a lead plaintiff.
On February 11, Bloomberg News reported the SEC is investigating whether Boeing properly accounted for the costs and expected sales of its 787 Dreamliner and 747 jumbo aircraft. On this news, Boeing shares fell $7.92, or 6.8%, to close at $108.44 on February 11, 2016.
The Complaint alleges Boeing did not disclose that the Company’s use of program accounting for the 787 Dreamliner and/or 747 jumbo aircrafts relied on inflated sales forecasts and on understated estimates of production costs. These misstatements and omissions in turn rendered their public statements materially false and misleading.
Whistleblowers: Persons with non-public information regarding Boeing should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BA@hbsslaw.com .
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