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The Boeing Company (NYSE: BA) Investor Securities Class Action Lawsuit 02/22/2016

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Lawsuit Overview

Case Dismissed
Company
Boeing Company (The)
Security
NYSE: BA

Case Name
Boeing Shareholder Class Action Lawsuit 02/22/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Northern District of Illinois

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 20, 2016 - The case was voluntarily dismissed.

February 22, 2016 - An investor in shares of the Boeing Company (NYSE: BA) filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Boeing in connection with certain allegedly false and misleading statements made between February 9, 2012 and February 11, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of the Boeing Company (NYSE: BA) common shares between February 9, 2012 and February 11, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 9, 2012 and February 11, 2016, defendants made allegedly false and/or misleading statements and/or failed to disclose that the Boeing Company’s use of program accounting for the Company’s 787 Dreamliner and/or 747 jumbo aircrafts relied on inflated sales forecasts, that Boeing’s use of program accounting for the Company’s 787 Dreamliner and/or 747 jumbo aircrafts relied on understated estimates of production costs, and that as a result of the foregoing, the Boeing Company’s public statements were materially false and misleading at all relevant times.

On February 11, 2016, news reports disclosed that the U.S. Securities and Exchange Commission (“SEC”) is reportedly investigating whether the Boeing Company properly accounted for the costs and estimated sales of two of its most renowned airplanes. Specifically, the SEC investigation reportedly concerns projections the Boeing Company made about the long-term profitability for its 787 Dreamliner and the 747 jumbo aircraft, and whether the Boeing Company has inappropriately smoothed earnings and concealed potential losses in past financial reports. Shares of the Boeing Company (NYSE: BA) declined on February 11, 2016, to $10.210 per share.

The Boeing Company reported that its annual Revenue increased from over $90.76 billion in 2014 to over $96.11 billion in 2015 while its Net Income declined from over $5.44 billion in 2014 to $5.17 billion in 2015.