NEW ORLEANS, May 29, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., have filed a class action lawsuit in the United States District Court for the Northern District of Illinois, No. 19-cv-3548, on behalf of shareholders who purchased or otherwise acquired the securities of The Boeing Company (NYSE: BA) between January 8, 2019 and May 8, 2019, inclusive (the "Class Period").
What You May Do
If you purchased securities of Boeing and would like to discuss your legal rights you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (email@example.com), or visit http://ksfcounsel.com/cases/nyse-ba/ to learn more. To serve as a lead plaintiff in this class action, you must petition the Court by June 10, 2019.
About the Lawsuit
On October 29, 2018, a Boeing 737 MAX 8 jet crashed after takeoff killing all onboard, followed by another 737 MAX 8 crash on March 10, 2019. Subsequently, Boeing's worldwide fleet of MAX 8 jets were grounded. On January 8, 2019, the first day of the Class Period, Defendants began making a series of materially false and/or misleading Class Period statements and omissions about the Company's MAX 8 jets.
On May 8, 2019, the last day of the Class Period, a Bloomberg article titled, "Former Boeing Engineers Say Relentless Cost-Cutting Sacrificed Safety," reported that the Company had rushed to bring the 737 MAX 8 to market in order to compete with Airbus, as opposed to designing a properly designed aircraft. On May 9, 2019, the Company's share price fell on unusually heavy trading, damaging investors.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC