Unite with Fellow Investors
Choose the Best Attorney
Follow Case Progress
id: 1082, Created by , Scout
Boeing Company (BA) Boeing 737 MAX Safety Issues Case
What do I get by joining?
- You will get case updates and receive a payout in case of success
- If you would like to actively participate, you will be connected to the attorney
- No, you do not pay anything out of your pocket neither to us nor to attorney
23 Oct 2019Class period Start
24 Jan 2024Class period End
- $BA stockholder filed a claim vs. Boeing for not disclosing risking flaws in 737 MAX aircraft production.
- The news about the Boeing 737 MAX and FAA grounding order caused $BA to fall 8%, losing $12.1B+ of shareholder value.
On January 5, 2024, a Boeing 737 aircraft operated by Alaska Airlines experienced an in-flight departure of an in-cabin door plug, causing the cabin to become depressurized and forcing an emergency landing.
Following this accident, on January 6, 2024, the Federal Aviation Administration issued a grounding order, stating that
- Boeing 737-9 aircraft will remain grounded until operators complete enhanced inspections which include both left and right cabin door exit plugs, door components, and fasteners
- And that operators must also complete corrective action requirements based on findings from the inspections prior to bringing any aircraft back into service.
On this news, $BA fell 8% and lost over $12.1 billion of its market capitalization, seriously damaging shareholders.
Based on these events, $BA stockholder filed a claim against Boeing and its leaders, accusing them of the following points:
- Boeing misled investors by prioritizing profits over safety in 737 MAX production;
- Concealed risks led to manufacturing flaws and safety concerns, and the news about it damaged shareholders.
Considering all the information, investors might have reasons to suspect Boeing of systemic problems with aircraft safety, which led to their losses.
Failure to Disclose,
Shock Event Date
08 January 2024
30 January 2024
Lead Plaintiff Deadline
01 April 2024