The people at Boeing probably expected more bad news and today they got some when Bernstein Liebhard LLP, a New York-based law firm filed a class action suit in the Northern District of Illinois against Boeing. The suit was filed on behalf of people who purchased, “securities of Boeing, Inc. (“Boeing” or the “Company”) (NYSE: BA) during the period of January 8, 2019 through March 21, 2019.”
More Bad News for Boeing
Key Takeaways:
- A class action lawsuit has been filed against Boeing by Bernstein Liebhard LLP on behalf of investors who purchased Boeing securities between January 8, 2019, and March 21, 2019.
- The suit alleges Boeing violated securities laws by making misrepresentations about the safety of its 737 Max airplanes, especially following the Lion Air and Ethiopian Airlines crashes.
- Specific allegations include that Boeing concealed the lack of standard safety features sold as "optional" add-ons that most airlines didn't purchase, and that the FAA delegated critical oversight and certification of a safety system to Boeing despite a clear conflict of interest.
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