NEW YORK, March 21, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against The Boeing Company (NYSE: BA). Our investigation concerns whether Boeing has violated the federal securities laws and/or engaged in other unlawful business practices.
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On October 29, 2018, a Boeing 737 Max 8 jet operated by Lion Air crashed into the Java Sea shortly after takeoff, killing all 189 people onboard. On November 12, 2018, the Wall Street Journal published an article titled “Boeing Withheld Information on 737 Model, According to Safety Experts and Others.” According to the article, 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, an Ethiopian Airlines-operated Boeing 737 Max 8 model airplane crashed in Addis Ababa, Ethiopia, shortly after take-off, killing all 157 people onboard. In the wake of the crash, regulators in China and several other countries grounded all Boeing 737 Max 8 jets. On this news, Boeing’s share price fell by more than 5%, closing at $400.01 on March 11, 2019.
On March 13, 2019, Boeing announced that “after consultation with the U.S. Federal Aviation Administration (FAA), the U.S. National Transportation Safety Board (NTSB), and aviation authorities and its customers around the world, Boeing has determined -- out of an abundance of caution and in order to reassure the flying public of the aircraft’s safety -- to recommend to the FAA the temporary suspension of operations of the entire global fleet of 371 737 MAX aircraft.”
On this news, Boeing’s share price fell still further, closing at $377.14 on March 13, 2019.
If you purchased or otherwise acquired Boeing shares, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Boeing please go to https://bespc.com/boeing/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com