Boeing (BA)

The law firm of Izard Nobel LLP announced that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased the common stock of The Boeing Company between May 4, 2009 and June 22, 2009 (Class Period).
The Complaint charges that Boeing and certain of its officers and Directors violated the federal securities laws. Specifically, defendants made misleading statements in effort to: (i) forestall further cancellations of orders for the Dreamliner 787, Boeing's principal commercial airplane, particularly as the orders for its competition, Airbus A380, were gaining ground; (ii) conceal that the 787 had a structural problem in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010; and (iii) enable Boeing to make a positive presentation concerning the test results for the 787 and the schedule for the first flight and delivery of the 787 at the Paris Airshow, scheduled for June 15-18, 2009, at which Boeing hoped to receive additional orders for the 787.

Nov 14 · 3:52:00 PM · Source: Reuters
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by Michael Oliveto