NEW ORLEANS, Feb. 06, 2024 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 1, 2024 to file lead plaintiff applications in a securities class action lawsuit against The Boeing Company (NYSE: BA), if they purchased the Company’s shares between October 23, 2019 and January 24, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Eastern District of Virginia.
What You May Do
If you purchased shares of Boeing and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-ba/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 1, 2024.
About the Lawsuit
Boeing and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 5, 2024, a Boeing 737 Max 9 aircraft was forced to make an emergency landing soon after takeoff when a panel of the plane snapped off at 16,000 feet, leaving an open hole in the main cabin. Subsequent investigations revealed potential problems with the Company’s manufacturing and production processes, leading to the grounding of many 737 MAX 9 aircraft and additional regulatory and market scrutiny. Finally, on January 24, 2024, the Federal Aviation Administration announced that the Company would not be allowed to expand production of the 737 MAX due to ongoing safety concerns.
On this news, the price of Boeing’s shares fell $12.25 or 5.7%, to close at $201.88 on January 25, 2024.
The case is State of Rhode Island Office of the General Treasurer, on behalf of the Employees’ Retirement System of the State of Rhode Island v. The Boeing Company, No. 24-cv-00151.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
