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'