LEGAL GUIDES FOR INVESTORS
If you suffered losses in Boeing stock, contact Boeing stock loss lawyer Timothy L. Miles about a Boeing class action lawsuit
INTRODUCTION TO THE BOEING CLASS ACTION LAWSUIT
The Boeing class action lawsuit seeks to represent purchasers or acquirers of The Boeing Company (NYSE: BA) common stock between October 23, 2019 and January 24, 2024, inclusive (the “Class Period”). Captioned 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 (E.D. Va.), the Boeing class action lawsuit charges Boeing and certain of Boeing’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered losses in Boeing stock and wish to serve as lead plaintiff in the Boeing class action lawsuit, or just have general questions about your rights as a shareholder, please contact Boeing Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form.
Lead plaintiff motions for the Boeing class action lawsuit class action lawsuit must be filed with the court no later than April 1, 1024.
Read on for answers to eight frequently asked questions by investors about the Boeing class action lawsuit.
WHAT ARE THE ALLEGATIONS IN THE BOEING CLASS ACTION LAWSUIT?
Boeing is a major supplier of large passenger aircraft.
The Boeing class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Boeing had been prioritizing its profits over safety, which led to poor quality control standards in the production of its commercial aircrafts such as the 737 MAX, resulting in a heightened risk of manufacturing flaws which could render Boeing’s new airplanes unsafe.
The Boeing class action lawsuit further alleges that on January 5, 2024, Alaska Airlines Flight 1282 was forced to make an emergency landing minutes after take-off when a door plug blew off mid-flight. Over that weekend, the Federal Aviation Administration (“FAA”) issued an emergency order grounding 171 Boeing 737 MAX 9 jets as it began safety inspections of 737 MAX planes alongside Boeing and airline operators, the complaint further alleges. On January 8, 2024, Morgan Stanley noted that without a significant improvement in quality control, a steep ramp-up in aircraft production for Boeing would be unlikely and “imprudent,” with a likely increase in regulatory scrutiny on Boeing potentially causing certification delays to new 737 MAX models, according to the complaint. The Boeing class action lawsuit alleges that on this news, the price of Boeing stock fell more than 8%.
Then, as the complaint further alleges, on January 9, 2024, news outlets reported that United Airlines had found loose bolts on exit door plugs during their FAA-mandated inspections of Boeing 737 MAX planes. On this news, the price of Boeing stock fell, according to the complaint.
Thereafter, on January 11, 2024, news outlets reported that the FAA had informed Boeing it had launched a formal investigation into whether Boeing had failed to properly ensure its aircraft were safe for operation, the complaint further alleges. On this news, the price of Boeing stock fell, according to the complaint.
Subsequently, as the complaint further alleges, on January 12, 2024, the FAA stated that a comprehensive audit was set to be conducted on the Boeing 737 MAX 9 production line and its associated suppliers. The Boeing class action lawsuit alleges that on this news, the price of Boeing stock fell.
Then, on January 16, 2024, Wells Fargo downgraded Boeing’s stock citing risks associated with the FAA’s inspection of Boeing’s production, the complaint further alleges. On this news, the price of Boeing stock fell nearly 8%, according to the complaint.
Finally, as the Boeing class action lawsuit further alleges, on January 24, 2024, news outlets reported that the FAA had announced it would not allow Boeing to expand production of the 737 MAX due to safety concerns related to the January 5, 2024 incident. On this news, the price of Boeing stock fell nearly 6%, according to the complaint.
WHAT IS A SECURTIES FRAUD CLASS ACTION SUCH AS THE BOEING CLASS ACTION LAWSUIT?
A securities fraud class action refers to a legal action taken by a group of investors who have suffered financial losses as a result of fraudulent activities committed by a company or its executives. This type of lawsuit is typically filed when a company misrepresents or withholds important information from investors, leading to a decline in the value of their investments. The purpose of a securities fraud class action is to seek compensation for the affected investors and hold the company accountable for its fraudulent practices. Securities fraud class actions are governed by the Private Securities Litigation Reform Act (PSLRA).
One notable securities fraud class action lawsuit is the Boeing class action lawsuit. In this case, investors who purchased Boeing securities alleged that the company made false and misleading statements and misled investors, and when the truth was ultimately disclosed, they suffered losses from purchasing shares that had been artificially inflated by the false and misleading information.
Securities fraud class actions are typically initiated by a lead plaintiff or a group of lead plaintiffs who represent the interests of all the affected investors. The lead plaintiff is often an institutional investor or a large shareholder who has suffered substantial losses and possesses the resources and expertise to effectively pursue the lawsuit on behalf of the class. The lead plaintiff's role is crucial in coordinating with legal counsel, gathering evidence, and making strategic decisions throughout the litigation process.
To proceed with a securities fraud class action, the lead plaintiff must demonstrate that there is a common issue of law or fact among the members of the class and that a class action is the most efficient and appropriate method for resolving their claims. If these requirements are met, the court will certify the lawsuit as a class action, allowing all eligible investors to participate in the litigation and share in any potential recovery.
Once certified, the securities fraud class action typically goes through several stages, including discovery, where both parties exchange relevant documents and information, and motion practice, where each side presents legal arguments to the court. If the case does not settle during these stages, it may proceed to trial, where a jury or judge will determine liability and damages.
In securities fraud class actions, the defendants are usually the company accused of fraud and its executives who were involved in the fraudulent activities. The lead plaintiff seeks damages on behalf of all class members, which may include compensation for their financial losses, interest, attorneys' fees, and other costs incurred throughout the litigation process.
In conclusion, a securities fraud class action is a legal mechanism used by investors to seek compensation for financial losses resulting from fraudulent activities committed by a company. The Boeing class action lawsuit serves as an example of how investors can hold companies accountable for their alleged misrepresentations and omissions. These lawsuits play an essential role in protecting investor rights and promoting transparency in the financial markets.
WHAT DO THE PLAINTIFFS HAVE TO PROVE TO PREVAIL IN THE BOEING CLASS ACTION LAWSUIT?
To understand the basis of the Boeing class action lawsuit, it is essential to grasp the key elements of securities fraud actions. The majority of securities fraud claims are brought under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. To prevail in a Rule 10b-5 action, a plaintiff must establish six elements:
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE BOEING CLASS ACTION LAWSUIT?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Boeing stock, they may move the Court to be appointed lead plaintiff in the Boeing class action lawsuit.
WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE BOEING CLASS ACTION LAWSUIT SETTLES?
No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Boeing class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Boeing class action lawsuit on behalf of investors who suffered losses in Boeing stock.
HOW WAS THE CLASS PERIOD DETERMINED IN THE BOEING LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
To be a part of the class in the Boeing lawsuit, you must have suffered losses in Boeing stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Boeing.
HOW CAN A BOEING STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN BOEING STOCK?
A Boeing stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Boeing lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
IF I SUFFERED LOSSES IN BOEING STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE BOEING LAWSUIT SETTLES?
If there is a settlement in the Boeing lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Boeing stock during the class period and suffered losses in Boeing stock.
The court will hold a final hearing in the Boeing lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Boeing lawsuit.
CONTACT A BOEING STOCK LOSS LAWYER TODAY ABOUT A BOEING CLASS ACTION LAWSUIT
If you suffered losses in Boeing stock, contact Boeing stock loss lawyer Timothy L. Miles today for a free case evaluation about a Boeing class action lawsuit. Call today and see what a Boeing stock loss lawyer could do for you if you suffered losses in Boeing stock.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846–6529
Email: [email protected]
Boeing stock loss lawyer Timothy L. Miles
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime. To learn more about the Archer-Daniels-Midland class action lawsuit and other securities class actions visit our home page.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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