The Complaint alleges that during the Class Period, Boeing concealed critical facts concerning the 737 MAX airplanes from investors, including the fact that Boeing designed and sold as "extras" or "optional features" safety features designed to prevent accidents such as the Lion Air and Ethiopian Airline crashes. The Complaint further alleges that Boeing also hid the fact that most airlines, including United, did not purchase these safety features. In addition, the Complaint alleges Boeing failed to disclose that Boeing had received delegated authority from the FAA over the safety analysis of the Maneuvering Characteristics Augmentation System (MCAS) – the system reportedly responsible for the crashes – that the Company delivered to the FAA, all while rushing the 737 MAX to market.
The Boeing Company Securities Litigation (2019)
Apr 16, 2019 | Boeing Company (The) NYSE: BA | Case Status: Filed
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First Identified Complaint
Richard Seeks, et al. v. The Boeing Company, et al.
First Identified Complaint Filings
|#||Document Title||Filing Date|
|1||Class Action Complaint||April 9th, 2019|
|2||U.S. District Court Civil Docket||April 10th, 2019|