PHILADELPHIA, Nov. 14, 2009 (GLOBE NEWSWIRE) -- Law Offices Bernard M. Gross, P.C. commenced a class action lawsuit in the United States District Court, Northern District of Illinois, 09cv 7143, on behalf of purchasers of the common stock of The Boeing Company, Inc. ("Boeing" or the "Company") (NYSE:BA) between May 4, 2009 and June 22, 2009, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934. The action is pending before the Honorable Suzanne B. Conlon. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from November 13, 2009. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at 866-561-3600 or via email at debbie@bernardmgross.com or susang@bernardmgross.com. A copy of the complaint is available from the Court or on the Law Offices Bernard M. Gross, P.C. website at www.bernardmgross.com.
Boeing is the world's leading aerospace company. The Complaint alleges that during the Class Period, defendants misled investors regarding the 787 Dreamliner, its testing process, its ability to meet the schedule for the first flight and its delivery. Defendants concealed from the market that the 787 had structural problems in its design that would prevent the first flight of the 787 by June 30, 2009, and delivery in the first quarter of 2010. Suddenly, without any warning, on June 23, 2009, Boeing announced that the "first flight of the 787 Dreamliner will be postponed due to a need to reinforce an area within the side-of-body section of the aircraft...First flight and first delivery will be rescheduled following the final determination of the required modification and testing plan." In immediate response to Boeing's belated June 23, 2009 disclosure, the market price of Boeing's common stock dropped 6.5% to close at $43.87 per share, on huge volume of 27.3 million shares traded. The next day, Boeing's common stock price dropped another 6% to close at $41.32 per share, on huge volume of 21.3 million shares.
Plaintiff seeks to recover damages on behalf of all persons who purchased the common stock of Boeing between May 4, 2009 and June 22, 2009, inclusive. The plaintiff is represented by Law Offices Bernard M. Gross P.C. The firm has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
PLEASE CONTACT: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
Telephone: 866-561-3600 (toll free) or 215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: http://www.bernardmgross.com