Shareholder sues Boeing, alleges company hid safety problems with 737 Max jet

In this April 8, 2019, file photo, Boeing 737 Max 8 jets are parked at the airport adjacent to a Boeing Co. production facility, in Renton, Wash.A Boeing shareholder is suing the company for allegedly hiding problems with its 737 Max jet to push its shares higher.

The federal suit also named Boeing CEO Dennis Muilenburg and the chief financial officer, Gregory Smith, as defendants.The company misled investors “by touting its growth prospects and profitability, raising guidance, and maintaining that the Boeing 737 Max was the safest airplane to fly the skies,” the lawsuit alleges. By doing so, investors bought shares at “artificially inflated prices.”

Its stock hit $440 early last month, then fell to $362 after the Ethiopian Airlines crash. The stock was at $369 in mid-afternoon trading Wednesday.

globebusiness ... irresponsible!

globebusiness Ya uh huh, I'm never EVER flying on that 'plane'

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Boeing shareholders sue over 737 MAX crashesA class action suit seeks damages for alleged securities fraud violations after Boeing’s market value tumbled by $34 billion after the crash of an Ethiopian Airline 737 MAX, worldwide grounding After the passengers families get their shares go ahead and divide up the rest among the shareholders. That should pretty much put the nail in Boeing's coffin. kaleneelizabeth can I sue them if I lost fake money from our stocktrak assignment as well?
Source: globeandmail - 🏆 5. / 92 Read more »