Hagens Berman Advises The Boeing Company (NYSE: BA) Investors of April 22, 2016 Lead Plaintiff Deadline in a Newly Filed Class Action
SAN FRANCISCO, Feb. 24, 2016 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm announces the filing of a securities fraud class action lawsuit against The Boeing Company (NYSE:BA) related to possible accounting errors in the production of the Company’s 787 Dreamliner and 747 jets, and alerts investors there is an April 22, 2016 lead plaintiff deadline.
If you suffered losses because of your purchases of Boeing between February 9, 2012 and February 11, 2016, or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing BA@hbsslaw.com or visiting https://www.hbsslaw.com/cases/BA. The lawsuit was filed in the U.S. District Court for the Northern District of Illinois and investors have until April 22, 2016 to move the court to participate as a lead plaintiff.
On February 11, 2016, Bloomberg News reported that the SEC is investigating whether Boeing properly accounted for the costs and expected sales of its 787 Dreamliner and 747 jumbo aircraft. On this news, Boeing shares fell $7.92, or 6.8%, to close at $108.44 on February 11, 2016.
The Complaint alleges that Defendants misled investors throughout the Class Period by making false statements regarding the Company’s business, operational and compliance policies. Specifically, Boeing did not disclose that the Company’s use of program accounting for the 787 Dreamliner and/or 747 jumbo aircrafts relied on inflated sales forecasts. Boeing also hid from investors that the use of program accounting for those same airplanes relied on understated estimates of production costs. These misstatements and omissions in turn rendered their public statements materially false and misleading, potentially in violation of the securities laws.
Whistleblowers: Persons with non-public information regarding Boeing should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email BA@hbsslaw.com.
Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact: Reed Kathrein, 510-725-3000
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