The Boeing Company Securities Litigation (2019)

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Lawsuit Overview

Defendant:Boeing Company (The)
Date Filed:April 8th, 2019
Sector:Capital Goods
Industry:Aerospace

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.

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First Identified Complaint

Jeweltex Manufacturing Inc., Retirement Plan, et al. v. The Boeing Company, et al.

Date Filed:April 8th, 2019
Class Period Start:February 28th, 2019
Class Period End:February 28th, 2019
First Identified Complaint Filings
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